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Australia Financial Services Industry Regulatory Requirements

K&L Gates LLP

June 2025 ESG Policy Update—Australia

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Australian Update - ASIC Includes Climate-Related Disclosures in its Financial Reporting and Audit Focus Areas for FY2025-26 - The Australian Securities and Investments Commission (ASIC) has published its financial reporting...more

K&L Gates LLP

Australia: The Regulatory Developments for FY25 That Fund Managers Can’t Afford to Ignore

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As we have now said goodbye to FY25, we look back on some of the more significant regulatory developments that fund managers can’t afford to ignore....more

A&O Shearman

Combatting payment account fraud: Australia’s Scams Prevention Framework

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On February 13, 2025, Australia passed legislation implementing its Scams Prevention Framework (SPF) aimed at protecting Australian consumers from scams. The design of the SPF was informed by a previous consultation which ran...more

K&L Gates LLP

Combatting Scams in Australia, Singapore, China and Hong Kong

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The increased reliance on digital communication and online banking has created greater potential for digitally-enabled scams. If not appropriately addressed, scam losses may undermine confidence in digital systems, resulting...more

K&L Gates LLP

March 2025 ESG Policy Update—Australia

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Australian Update - Resistance to Australian Securities Exchange Corporate Governance Council’s Diversity Reforms Signals Decline in Environment, Social and Governance Commitment - The recent decision by the Australian...more

Jones Day

Australia Passes Landmark Scam Prevention Legislation

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On 13 February 2025, the Australian Federal Parliament passed the Scams Prevention Bill 2025 (Cth) ("Bill"), the first of its kind worldwide....more

K&L Gates LLP

Australia: ASIC Prepares Guidance Following the Release of BNPL Regulations

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On 5 February 2025, the Australian Government (via the Department of Treasury) released an exposure draft on the National Consumer Credit Protection Amendment (Low Cost Credit) Regulations 2025 (draft Regulations). The draft...more

K&L Gates LLP

Australia's Proposed Scams Prevention Framework

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In response to growing concerns regarding the financial and emotional burden of scams on the community, the Australian government has developed the Scams Prevention Framework Bill 2024 (the Bill). Initially, the Scams...more

K&L Gates LLP

Asset Management Regulatory Year in Review 2024

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2024 was a year of meaningful regulatory change for asset managers globally. The regulatory activity was wide ranging and without a particular unifying theme. In fact, the wide, and in cases diverging focuses of key global...more

K&L Gates LLP

Australia: AI and Your Obligations as an Australian Financial Services Licensee

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As Artificial intelligence (AI) continues to be adopted and used by Australian Financial Services (AFS) licensees broadly, it has become increasingly evident that many licensees’ deployment of AI falls short of their existing...more

Jones Day

FAR-Reaching Reforms on Track to Expand BEAR

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BEAR, which came into effect throughout 2018 and 2019, imposed extensive accountability obligations on ADIs and expanded APRA's enforcement powers. You can read our previous Commentary on BEAR here. ...more

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