On the pulse
ASIC InFocus February 2026 – Volume 35 Issue 1 – see newsletter.
ASIC: Short selling relief – see instrument.
ASIC takes further steps to support Australians impacted by First Guardian and Shield collapse – see media release.
ASIC urges super trustees to step up and address serious gaps in anti-scam and fraud protections – see media release.
ASIC: Appointment of new Chair – see media release.
AUSTRAC provides update on transitional rules deferring commencement of AML obligations – see media release.
RBA: Statement on Monetary Policy Decision – see media release.
ATO: J5 links suspicious activity to cryptocurrency platforms in new advisories – see media release.
Consultation: Enhancing oversight and governance of managed investment schemes – see consultation.
Consultation: Sustainable Financial Product Label Policy Framework – see consultation.
G+T Insight – From benchmark to question mark: commodity pricing in commercial contracts in an increasingly volatile global market – Mark McAleer (12 February 2026).
G+T Insight – Split contracting in Australian renewables: why it’s on the rise, what it delivers and what are the risks – George Varma and Nemanja Stepanovic (9 February 2026).
ASIC
ASIC InFocus February 2026 – Volume 35 Issue 1
On 4 February 2026, ASIC published its InFocus newsletter (Volume 35 Issue 1). Key takeaways include:
Company extracts purchased through the ASIC website will no longer contain the residential addresses of company officeholders.
Changes to Australia’s anti‑money laundering and counter‑terrorism financing (AML/CTF) laws will affect some businesses from 1 July 2026.
AUSTRAC encourages businesses to start preparing by checking whether their services will be regulated, visiting the Reforms Hub on the AUSTRAC website, watching introductory webinars and reading the reforms guidance and learning how to use this guidance.
AUSTRAC also released AML/CTF program starter kits for typical small Tranche 2 businesses (not current reporting entities), providing step-by-step guidance to help reduce the time, cost and effort involved in building an AML/CTF program.
ASIC urges businesses that accept credit card payments to stay alert to payment fraud. ASIC introduced 3D Secure security upgrades across its systems late last year.
ASIC proposes ways to avoid paying late fees:
Understand when you need to notify of changes to your company and the lodgement periods for different documents.
Keep your details up to date to ensure you don’t miss any correspondence from ASIC.
Ensure you pay your annual review fees by the due date.
Natural disaster support for small businesses from the ATO – see factsheet.
ASIC: Short selling relief
On 2 February 2026, ASIC registered ASIC Corporations (Amendment) Instrument 2026/24, which amends ASIC Corporations (Short Selling) Instrument 2018/745 (Instrument 2018/745). The amendments provide legislative relief from the prohibition on ‘naked’ short selling (that is, a short sale without a securities lending agreement) in very specific circumstances, including the exchange-traded fund market maker exemption and hedging exemption.
Instrument 2018/745 also:
Provides exemptions from certain short transactions reporting requirements.
Modifies the operation of requirements for short position reporting and disclosures.
ASIC takes further steps to support Australians impacted by First Guardian and Shield collapse
On 5 February 2026, ASIC announced it is taking further steps to support the Australians who invested in the Shield Master Fund and First Guardian Master Fund, which have collapsed.
So far, less than 2,000 of around 11,000 Australians who invested approximately $1.1 billion in the funds have lodged complaints with the Australian Financial Complaints Authority, prompting ASIC to take further action to ensure that investors understand the impact.
From 6 February 2026, ASIC will begin sending further information to investors, including a link to a dedicated consumer website that contains trusted and independent support, and options to make a complaint.
ASIC urges super trustees to step up and address serious gaps in anti-scam and fraud protections
On 4 February 2026, ASIC announced that it is urging immediate action from superannuation trustees to strengthen anti-scam and fraud practices after its latest review exposed significant gaps in communications for members.
ASIC assessed scams and fraud-related website content across 47 superannuation funds, benchmarking them against comparable website content from the big four banks.
The review focused on the availability, quality and actionability of anti-scams and fraud content, including by checking the website content for clarity and relevance, prominence on the website and readability. ASIC’s review found banks scored positively in over 80% of criteria assessed, whereas most super funds scored positively against just 40-60% of the same criteria.
Appointment of new ASIC Chair
On 3 February 2026, the Treasury announced that it will recommend to the Governor-General that Sarah Court be appointed as the next Chair of ASIC. Following this, ASIC announced that Chair Joe Longo has welcomed the appointment of Sarah Court as the agency’s incoming Chair.
AUSTRAC
AUSTRAC provides update on transitional rules deferring commencement of AML obligations
On 22 January 2026, the Department of Home Affairs, in conjunction with AUSTRAC, announced the development of transitional rules (Rules) designed to facilitate a seamless implementation of the anti-money laundering and counter-terrorism financing reforms.
The primary objective of these Rules is to allow reporting entities sufficient time to adjust their business processes while continuing to manage money laundering and terrorism financing risks effectively. The Department of Home Affairs will publish an exposure draft of the Rules in the coming weeks and provide an opportunity for stakeholders to provide feedback.
Other bodies and regulators
RBA: Statement on monetary policy decision
On 3 February 2026, the RBA announced that, at its meeting, the Board decided to increase the cash rate target by 25 basis points to 3.85%.
In the Statement on Monetary Policy, the RBA upgraded its near‑term outlook for GDP and said that the pressure on inflation was due to stronger private demand. They stated “the near‑term upward revision is driven by private demand” and that the “contribution of public demand to year‑ended GDP growth has continued to ease in recent quarters, as expected”.
See also Treasury media release.
ATO: J5 links suspicious activity to cryptocurrency platforms in new advisories
On 12 February 2026, the ATO announced that the Joint Chiefs of Global Tax Enforcement (J5) published two law enforcement advisories that detail how over-the-counter (OTC) cryptocurrency trading desks and cryptocurrency payment processors may be used to conceal and move funds tied to criminal activity.
Legislation and proposed legislation
Bill updates from Parliament
On 5 February 2026:
The Senate referred the Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Bill 2025 for inquiry and report. The Bill amends various acts to, among other things, streamline the choice of superannuation fund process during employee onboarding and ban advertising of certain superannuation products to new employees as part of the onboarding process.
The Senate referred the Corporations Amendment (Digital Assets Framework) Bill 2025 for inquiry and report. The Bill amends the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001 to, among other things, update Australia’s digital asset regulatory regime by defining the core concepts of digital tokens, digital asset platforms and tokenised custody platforms.
Consultation: Enhancing oversight and governance of managed investment schemes
On 10 February 2026, the Treasury announced that it has issued a consultation paper, seeking feedback on proposals for enhancing managed investment scheme (MIS) governance and oversight by ASIC and improving ASIC's visibility of superannuation switching. The consultation follows the recent collapse of certain high-profile MIS, including the Shield Master Fund and First Guardian Master Fund. The proposals for consultation are to:
Strengthen the regulatory framework for compliance, including to:
Introduce stricter compliance plan requirements, such as requiring a detailed description of the nature of the scheme and its investment strategy, and information outlining how significant risks will be identified, monitored and managed.
Amend the liability framework for compliance plans, such that liability attaches only to material contraventions of a plan, to incentivise higher quality plans.
Make existing audit and assurance standards mandatory for auditors of compliance plans.
Require responsible entities to notify ASIC of the appointment, removal or resignation of committee members.
Require responsible entities of registered schemes to have a majority of external directors and remove the option of having a mandatory compliance committee instead.
Prohibit responsible entities of registered schemes from conducting related party transactions, with limited exceptions.
Amend the framework for setting financial requirements for responsible entities, such as setting more specific requirements.
Increase ASIC’s data collection powers on the retail MIS sector.
Alert ASIC about superannuation switching.
Submissions for feedback on the proposed changes close 27 February 2026.
Consultation: Sustainable Financial Product Label Policy Framework
On 13 February 2026, the Treasury announced that it is asking for feedback on design options to improve product information for sustainable financial products. The consultation paper outlines the options to make it easier for investors to understand and trust the claims made by the product issuers.
Submissions for feedback on the proposed policy details for the labelling system and the questions in the consultation paper close 13 March 2026.
G+T articles
G+T Insight – Split contracting in Australian renewables: why it’s on the rise, what it delivers and what are the risks – discusses how procurement models are evolving to better manage risk, speed up delivery and drive value – George Varma and Nemanja Stepanovic (9 February 2026).
G+T Insight – From benchmark to question mark: commodity pricing in commercial contracts in an increasingly volatile global market – discusses how the global seaborne copper concentrates market is undergoing its most fundamental structural change in decades – Mark McAleer (12 February 2026).
Calendar dates
31 March 2026 – Amended AML/CTF obligations commence for existing reporting entities.
31 March 2026 – Tranche 2 entities may enrol as reporting entities with AUSTRAC.
1 July 2026 – Mandatory climate-related financial disclosures for Group 2 entities apply in respect of financial years starting on or after this date.
13 July 2026 – Key CDR obligations commence for non-bank lenders.
1 July 2027 – Mandatory climate-related financial disclosures for Group 3 entities apply in respect of financial years starting on or after this date.