Regulatory Updates

In a period defined by rapid digitisation and the rise of artificial intelligence (“AI”), financial systems are becoming faster, smarter …

See Bills introduced to Parliament, or exposure draft legislation released for consultation.

Proposed derivative transaction reporting rules update. This Consultation seeks feedback on proposed updates to the ASIC Derivative Transaction Rules (Reporting) …

ASIC cancels licences

ASIC has cancelled the AFS licences of:

• ABL Funds Management Pty Ltd for failure to meet statutory …

AUSTRAC and PPATK, Indonesia’s Financial Intelligence Unit, have recently joined forces for a week of action focused on combatting child …

ML/TF Risk Assessment Quick Guide

AUSTRAC has released quick guides for Tranche 2 sectors to help businesses learn the steps …

Bankstown District Sports Club Ltd has been ordered by AUSTRAC to appoint an external auditor, following concerns its anti-money laundering …

AUSTRAC has launched two supervisory campaigns focused on virtual asset service providers (“VASPs”) that offer over-the-counter crypto to cash (or …

AUSTRAC has updated Australia’s money laundering (“ML”), terrorism financing (“TF”) and proliferation financing (“PF”) risks, highlighting a rapidly evolving financial …

AUSTRAC has recently updated its statement of expectations for both existing and new reporting entities.

The clear message is that …

Recent AFCA releases

AFCA has released FAQs in relation to its newly introduced call recording process across case handling teams. …

The Federal Court has held that Telstra Super failed to comply with its internal dispute resolution (“IDR”) procedures as required …

A two-year prohibition against the registration of financial adviser Stephen Rogers as a relevant provider, imposed by the FCSP, has …

ASIC has permanently banned Trent Simon Giumelli from providing financial services after finding that he demonstrated:

• serious incompetence and irresponsibility …

Former financial services director Ashley Arandez has been sentenced to 5 years and 6 months’ imprisonment after pleading guilty to …

In April, the Federal Court ordered Cigno Australia and its director Mark Swanepoel, and BSF Solutions and its director Brenton …

The Federal Court has ordered a $33.5 million penalty against online retailer Walker Stores Pty Ltd, which traded as Snaffle, …

The Federal Court has ordered a $26 million civil penalty against Westpac Banking Corporation for failing to respond to more …

ASIC has made changes to the following disclosure requirements for the superannuation and investment management sectors:

• ASIC Corporations (Disclosure of …

ASIC commences further proceedings against Equity Trustees

ASIC has commenced further proceedings in the Federal Court against Equity Trustees Superannuation …

ASIC has reminded providers of financial services involving digital asset financial products that they need to decide whether to apply …

ASIC is proposing to remake the following legislative instruments that provide relief for certain types of managed investment schemes:

• ASIC …

ASIC has issued an open letter to industry calling on all licensees and market participants to urgently strengthen their cyber …

One of the significant findings from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal …

See Bills introduced to Parliament, or exposure draft legislation released for consultation.

Building a Stronger and Fairer Super System Act 2026 – Draft Regulations. These draft regulations and explanatory material follow …

ASIC publishes ASX Inquiry Panel Final Report

ASIC published the ASX Inquiry Panel Final Report on 2 April 2026 following …

Following HN Hub T-REX Regulatory Update, Why understanding suspicious activity indicators matters, published March 2026, AUSTRAC has released a …

AUSTRAC and the Illicit Tobacco and E-Cigarette Commissioner wrote to the banking sector in late 2025 to raise awareness that …

AUSTRAC have recently completed two supervisory campaigns focusing on different parts of the foreign-owned banking sector, which identified weaknesses in …

MHITS Limited has been directed by AUSTRAC to appoint an external auditor to determine if it is meeting its AML/CTF …

In preparation for the commencement of the reformed AML/CTF regime, AUSTRAC engaged with 128 inactive businesses on the Digital Currency …

In last month’s T-REX, we let you know about amendments to the AML/CTF Rules. The Anti‑Money Laundering and Counter‑Terrorism …

AUSTRAC has reminded cryptocurrency ATM (CATM) providers of the importance of strong enhanced customer due diligence (“ECDD”) controls to help …

Enrolments opened on 31 March 2026 for businesses that will provide tranche 2 designated services. This includes a new enrolment …

The enrolment and registration forms have been updated to reflect the expanded and amended information that AUSTRAC now collects as …

AFCA published two new guides setting out AFCA’s expectations when a financial firm disputes AFCA’s jurisdiction to deal with a …

The FSCP released the outcome of a number of cases during the month.

The Panel issued a written direction for …

The Federal Government has introduced a general prohibition on advertising superannuation products during employee onboarding, following the passage of the …

ASIC has issued “warning notices” to four social media “finfluencers” suspected of providing unlicensed financial advice or engaging in misleading …

The Federal Court has ordered Money3 Loans Pty Ltd to pay penalties of $1.55 million for breaching responsible lending obligations …

The Federal Court has ordered Cigno Australia and its director Mark Swanepoel, and BSF Solutions and its director Brenton Harrison, …

ASIC has been busy updating a large number of Regulatory Guides and Info Sheets following the remaking of relief via …

As the fallout from the Shield Master Fund and First Guardian Master Fund collapses continues, Treasury has released a package …

This month, ASIC cancelled the following AFS licences on the basis that the licensees had ceased carrying on a financial …

After several false starts, the Federal Government has passed its long-awaited reforms to the AFS licensing exemptions for foreign financial …

ASIC has continued its extensive work in relation to the Shield and First Guardian fallout. Shield Master Fund and the …

ASIC banned several individuals from the financial services industry in April:

• Benjamin Godfrey, former director and responsible manager of …

The Federal Court ordered Oztures Trading Pty Ltd (trading as Binance Australia Derivatives) to pay a $10 million penalty for …

Legislation passed for 2027 commencement

On 1 April 2026, Parliament passed the Corporations Amendment (Digital Assets Framework) Bill 2025. …