Australian Financial Services Regulatory Update – July 2021 | Jones Day
This edition of the Update covers:
- Recent legal and regulatory developments, including Australian regulatory expectations regarding the LIBOR transition, AUSTRAC’s issuance of new rules to reflect the recent AML/CTF reforms and the passing of the ‘Your Future, Your Super’ package of reforms;
- The continuing fallout of the Financial Services Royal Commission and the recent cases demonstrating ASIC and APRA’s continuing commitment to enforcement action in relation to matters referred by the Commissioner; and
- Other regulatory enforcement action, including investigations recently commenced by AUSTRAC’s Enforcement Team and criminal charges laid against a retail bank for false and misleading conduct.
Key Legal and Regulatory Developments
The Australian Regulators Reiterate Their Expectations for a Smooth Transition Away From LIBOR
On 4 June 2021, ASIC, APRA,…