MyComplianceOffice Blog

APRA and ASIC hosted Superannuation CEO Roundtables in June and July 2024, focusing on a central theme of “superannuation funds as investors of members’ money”.

A former financial adviser and director of a financial institution (FI) in Brisbane, Australia, has been sentenced to 12 years imprisonment with parole eligibility after six years, including the 977 days of pre-sentence custody declared as time already served.

Singapore’s Parliament has passed the Anti-Money Laundering (AML) and Other Matters Bill, a crucial step in enhancing the nation’s defences against financial crimes. The Bill, introduced by Singapore’s Second Minister for Home Affairs, Josephine Teo, is designed to strengthen the country’s anti-money laundering (AML) framework, ensuring it keeps pace with global standards set by the Financial Action Task Force (FATF). Teo explains during her second reading of the Bill, “We have been distilling the learning points through careful studies of the changing modus operandi, as well as the new standards promulgated by FATF.”

The Australian Securities and Investments Commission (ASIC) has called on market intermediaries to enhance supervisory mechanisms and strengthen oversight of business communications among their authorised representatives.

The Australian Prudential Regulation Authority (APRA) has undergone several initiatives over the last few years to make its standards and guidance simpler, clearer, and more adaptable.

In a culmination of these efforts, APRA has now launched its digital framework, taking shape as its digital “Prudential Handbook”.