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* This article was originally published in the Financial Crime Edition. Click here to read this article or scroll down. 



By Hayden Best

In December 2016, the Financial Markets Authority (FMA) released its Anti-money laundering and countering financing of terrorism monitoring report,
[1] commenting on key themes and concerns arising from thei...

By Kwame Slusher

Tuesday 18 April 2017



According to Robert French AC, former Chief of Justice of the High Court of Australia, “Convergence and mutual recognition in relation to financial services is of particular importance for Australia. We have a very strong position as a provider of such services. It is reflected in the very large amount of funds under management in this country.”
...

By Kwame Slusher




Recently, GRC Professional caught up with Paul Muthaura CEO of the Capital Markets Authority (CMA) who has held various roles in the CMA over the last 12 years, and has been CEO of the Kenyan Regulatory body for the last five years. Kenya is home to one of the first successful fintech solutions to effectively leverage mobile money platforms.  T...

By Kwame Slusher

ASIC Media Release

ASIC has today released a consultation paper on its proposal to develop and implement a Financial Services Panel (the Panel).

The Panel would add a strong element of peer review to ASIC's administrative decision making processes.

ASIC Chairman Greg Medcraft said, 'ASIC's aim in establishing a Panel is to enhance the...

By Kwame Slusher

AUSTRAC information was the catalyst for a law enforcement investigation into the unexplained wealth of two entities. The subjects of the proactive AUSTRAC referral were a married couple identified as moving large and unexplained amounts of cash domestically as well as sending...

By Kwame Slusher

APRA Media Release

WAYNE BYRES
 
Chairman

Keynote address at the AFR Banking & Wealth Summit 2017, Sydney

5 April 2017

Thank you for the opportunity to be part of the third AFR Banking & Wealth Summit. This is the third time I have been asked to speak at this event, and I am going to return to my usual theme: the strength in t...

By Kwame Slusher



What are some of the OAIC’s concerns about the attitudes towards data protection in Australia?

 
Many organisations still believe privacy and data protection is about secrecy. Privacy, in a customer content, is about transparency as well as protecting personal information. It means being clear about what data you collect and how you’ll use it, ...

By Kwame Slusher





A Brief Overview and Commentaries

* This article has been republished from the Financial Crime 2017 Edition. Click here to download the article or scroll down. 




by Dr. Raymond Siu Yeung Chan & Dr. Angus Young

 
The term ‘anti-money laundering’ should invoke some sense of angst to those who work in the financial services sector in ...

By Kwame Slusher

ACCC Media Release

The Australian Competition and Consumer Commission has instituted proceedings in the Federal Court against Apple Pty Limited and its US-based parent company, Apple Inc., (together, Apple) alleging that Apple made false, misleading, or deceptive representations about consumers’ rights under the Australia...

By Kwame Slusher

Tuesday 4 April 2017



In this world of rapid change and innovation, regulators are looking how they can leverage data technology to better regulate their remits, while at the same time seeking ways to regulate new financial products without curtailing that innovation.

This is one of the major issues that came out of last week’s ASIC Annual Forum 2017. And while the...

By Kwame Slusher