On 8 July 2025, the Australian Prudential Regulation Authority (APRA) released a consultation paper on implementing APRA’s decision to phase out Additional Tier 1 (AT1) capital instruments.
Background
APRA is seeking feedback on proposed amendments that give effect to the phase out of AT1 capital instruments and replace them with predominantly
In this latest issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance, asking six key questions in the following jurisdictions: United Kingdom, United States, Canada, EU, Luxembourg, France, Italy, Poland, Hong Kong, China, UAE, Australia and South Africa.
Read the issue here.
On 3 July 2025, the Australian Securities and Investments Commission (ASIC) issued its 2024-25 Cost Recovery Implementation Statement (CRIS), which outlines how ASIC will recover regulatory costs from industry under the industry funding model.
The CRIS contains ASIC’s estimated costs and levies for each industry subsector in 2024-25 to help entities
On 27 June 2025, the Australian Securities and Investments Commission (ASIC) announced that it had provided Australian financial services and credit licensees additional targeted relief under the reportable situations regime.
Background
The reportable situations regime requires licensees to promptly identify, fix and report potential misconduct.
Since October 2021, ASIC has conducted extensive work
On 24 June 2025, the Australian Securities and Investments Commission (ASIC) updated its guidance for Australian financial services (AFS) licensees on how they can reduce share sale fraud risks to their clients and business. The update follows a spike in reports of stolen shares due to identity theft and an industry
On 18 June 2025, the Australian Prudential Regulation Authority (APRA) published a letter to consult on a set of minor proposals on instruments relating to section 66 of the Banking Act 1959.
Under section 66 of the Banking Act, there are restrictions on the use of certain words and expressions within the context
On 12 June 2025, the Australian Securities and Investments Commission (ASIC) issued a press release stating that it had issued warning notices to 18 social media ‘finfluencers’ suspected of unlawfully promoting high-risk financial products and providing unlicenced financial advice.
Following the issuance of INFO Sheet 269 ‘Discussing financial products and services online’ in
On 12 June 2025, the Australian Prudential Regulation Authority (APRA) issued a consultation paper on modifying the capital framework for annuities.
In summary the proposals redesign the illiquidity premium in Prudential Standard LPS 112 Capital Adequacy: Measurement of Capital (LPS 112). Specifically, APRA proposes to allow a bigger liquidity premium where
This article was co-authored with Michele Beck, Tom Clark, Masooma Saberi, Hasan Mohammad and Vivian Truong.
Between November 2024 and January 2025, the Australian Securities and Investments Commission (ASIC) released draft guidance for the new sustainability reporting regime, as well as guidance on the financial Advisor reforms in the Treasury Laws Amendments (Delivering Better Financial
This article was co-authored by Michele Beck, Tom Clark, Masooma Saberi, and Vivian Truong.
In October 2024, the Australian Securities and Investments Commission (ASIC) was successful in its action against a life insurer in relation to misleading statements. ASIC issued or proposed updates in relation to licensing and professional registration activities, OTC derivative transaction reporting