On the pulse
- Consultation: Preventing perpetrators from accessing victims’ super death benefits – see consultation.
- ASIC: Parliamentary Joint Committee on Corporations and Financial Services – see opening statement.
- APRA releases letter on eligible liquid assets for liquidity requirements for ADIs – see letter.
- Financial Action Task Force updates on global ML/TF risk – February 2026 – see media release.
- Draft legislation: Regulation of Payment Service Providers – Tranche 1 – see consultation.
- Two bills assent: Building a stronger and fairer super system – see media release.
- ASIC trims regulatory guidance to reduce complexity for industry – see media release.
- ASIC eases PDS rules for residential strata insurance providers – see media release.
- ASIC: ‘When history rhymes: regulating digital assets’ – see paper.
- Treasury: Significant milestone in work to improve insurance coverage and affordability – see media release.
ASIC
ASIC: InFocus: Volume 35 Issue 2 (March 2026)
On 4 March 2026, ASIC released its InFocus Newsletter: Volume 35 Issue 2 (March 2026), covering:
- Industry funding levy notice: pay now to avoid penalties – Entities must pay their levy notice by 11 March 2026. For more information about industry funding, visit ASIC's website.
- Modernising transactions in the ASIC Regulatory Portal – ASIC is upgrading the ASIC Regulatory Portal to deliver modernised transactions and a simpler user experience.
ASIC: Parliamentary Joint Committee on Corporations and Financial Services
On 6 March 2026, ASIC published the opening statement by ASIC Chair Joe Longo at the Parliamentary Joint Committee on Corporations and Financial Services, Inquiry into the Oversight of ASIC, the Takeovers Panel and the Corporations Legislation, public hearing. Key takeaways from his opening statement include:
- Enforcement update – Australian banks need to get the basics right. ASIC continues to prioritise pursuing misconduct affecting consumers, businesses and the economy.
- Shield and First Guardian – ASIC “will not rest” until its work regarding Shield and First Guardian is complete and those responsible have been properly held to account.
- ASX – ASIC announced several commitments that ASX Group has made to ASIC. The inquiry’s final report is due to be delivered to ASIC by 31 March 2026 and will be released publicly shortly thereafter.
ASIC: Shaping a stronger future for the Asia Pacific
On 5 March 2026, ASIC published the keynote address by ASIC Chair Joe Longo at the Asia Securities Industry & Financial Markets Association Annual Conference in Sydney. Key takeaways from his address include:
- The Asia-Pacific region must act now – and act together – to seize the opportunity for financial innovation.
- ASIC wants to be backers, not blockers, of financial innovation – and ASIC is taking the lead to bring industry and experts together on ecosystem-level innovation.
- Australia needs fresh thinking, smart risk-taking, collaboration across the private and public sector, and for boards and executives to play a strong role in driving innovation.
Updates to reflect the regulatory guide for product disclosure statements
On 5 March 2026, ASIC updated seven regulatory guides and two information sheets to reflect the renamed Regulatory Guide 168 Product Disclosure Statements: Disclosure and other obligations (released December 2025), remove out-of-date information and align with current ASIC style and drafting practices.
See ASIC regulatory tracker.
ASIC trims regulatory guidance to reduce complexity for industry
On 10 March 2026, ASIC announced that it has withdrawn and updated certain regulatory guides as part of its push to make financial regulation simpler, clearer and easier to apply.
ASIC has withdrawn outdated guidance:
- Regulatory Guide 64 Failure to lodge documents (RG 64).
- Regulatory Guide 40 Good transaction fee disclosure for bank, building society and credit union deposit and payments products (transaction accounts) (RG 40).
ASIC has also updated:
- Regulatory Guide 104 AFS licensing: Meeting the general obligations (RG 104).
- Regulatory Guide 205 Credit licensing: General conduct obligations (RG 205).
ASIC has made minor and technical updates to RG 104 and RG 205 to maintain accuracy and clarity.
These changes form part of ASIC’s broader program to review, update and simplify ASIC’s regulatory guidance.
ASIC eases PDS rules for residential strata insurance providers
On 11 March 2026, ASIC announced new relief measures to make it easier for insurers to work together on residential strata insurance policies that are too large for a single insurer to cover. The relief is provided by ASIC Corporations (Strata Title Co-Insurance) Instrument 2026/156.
This streamlined approach aims to help insurers offer cover for high-value strata properties, while also ensuring that owners’ corporations – when classified as retail clients under the Corporations Act 2001 – still get the information they need about insurance arrangements.
ASIC: ‘When history rhymes: regulating digital assets’
On 11 March 2026, ASIC published a paper presented at the Melbourne Money & Finance Conference, University of Melbourne by Dr Rhys Bollen, Senior Executive Leader, FinTech.
The paper includes discussion of:
- enduring functions of financial services
- financial instruments and ledger technologies
- layered financial regulation
- technology neutrality and functional regulation
- regulatory challenges and policy implications
- emerging regulatory responses
- ASIC guidance - clarifying continuity in Australian law
- the Digital Assets Framework Bill 2025: legislating functional regulation.
The conclusion of the paper is as follows:
“History demonstrates that financial and technological innovation rarely displaces the core functions of finance. Instead, it reshapes the technologies through which those functions are performed. Digital assets are no exception. While they introduce novel technical features, they do not replace or retire the foundational principles of financial regulation.
By adhering to technology neutrality, functional analysis and proportionality, regulators and policymakers can accommodate innovation while preserving consumer protection, market integrity and systemic stability. In this sense, the regulation of digital assets represents not a rupture with the past, but another instance in which history rhymes.
The long-term impact of recent technological innovations like distributed ledger technology are not yet clear. In the end, the ‘free hand’ of the market will decide which technologies provide the greatest net benefit to the end-users of financial services. However, the policy and regulatory framework is well placed, with some modest refinements, to contribute by ensuring that consumer protection, market integrity and financial safety standards are maintained in the meantime.”
ASIC: ‘Step into your role in the system’
On 11 March 2026, ASIC published the joint keynote address by ASIC Commissioner Simone Constant at the Conexus Super Chair Forum, Sorrento on 4 February 2026. Key points include:
- By 2030, industry projects that Australia’s superannuation pool could be approaching $6 trillion, comparable in size to where the banks are today.
- As super continues to grow, trustees will become stewards of more than Australia’s retirement future – but of Australia’s economic future too.
Right across the superannuation sector there is a need to scale governance, capability, skills, systems and operations to match this growing role in the system.
Other bodies and regulators
RBA: Payments System Board update: March 2026 meeting
On 5 March 2026, the RBA announced that at its meeting, the Payments System Board discussed a number of issues, including:
- The future of cash distribution arrangements.
- Review of Merchant Card Payment Costs and Surcharging.
- The system-wide resilience of the Australian payments system.
- Developments in the account-to-account payments system.
- Project Acacia findings and a roadmap for future work.
Legislation and proposed legislation
Consultation: Preventing perpetrators from accessing victims’ super death benefits
On 5 March 2026, the Treasury announced that it has opened consultation, seeking feedback on policy options to stop people who have committed family and domestic violence from receiving the superannuation death benefits of victims. The aim is to protect victim-survivors’ interests and support fair, timely payment of death benefits.
Submissions for feedback close 15 April 2026.
Consultation: Regulation of Payment Service Providers – Tranche 1
On 12 March 2026, the Treasury opened consultation on draft legislation for a new regulatory framework for payment service providers. The full package of draft Tranche 1 legislation covers:
- definitions of regulated payment functions
- licensing obligations, including how certain providers must safeguard payment-related money
- exemptions and exclusions
- rules for unclaimed monies
- a new prudential framework
- a power to make rules for a mandatory and revised ePayments Code
- transitional arrangements.
Two bills assent: Building a stronger and fairer super system
On 10 March 2026, the Treasury announced that the Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026 (the Bill) passed the Senate without amendment. On 13 March 2026, the Bill and the Superannuation (Building a Stronger and Fairer Super System) Imposition Bill 2026 assented.
These reforms will mean more super for around 1.3 million Australians, including around 750,000 women and around 550,000 young people under the age of 30. This legislation will boost the Low Income Superannuation Tax Offset (LISTO) and make important changes to maintain tax concessions but target them for large balances over $3 million.
See additional Treasury media release.
Introduced bill: Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2026
On 12 March 2026, the Assistant Minister for Immigration introduced the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2026. This Bill is for an Act to amend the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, and for related purposes.
G+T articles
G+T Insight – Regulation in motion – three updates – Peter Reeves, Georgina Wilcock, Vince Battaglia, Emily Shen, Anthony Basa, Amiinah Dulull and Maya Ruber (13 March 2026).
G+T Insight – Dark horse wins the race – Australian fashion designer prevails in High Court trade mark battle against Katy Perry – provides details on the HCA’s decision after a 17-year trade mark battle – Michael Williams and Caelan Bruce (13 March 2026).
G+T Insight – Corporate Advisory Update | March 2026 – Ilona Hunnisett (12 March 2026).
G+T Insight – Boardroom Brief Week Commencing 9 March 2026– Justin Mannolini and Rachael Griffiths-Szeto (11 March 2026).
G+T Insight – Selective capital: Familiar friends, old allies and strategic infrastructure – discusses the deeper bilateral policy pathway that is emerging between Australia and Canada – Christopher Flynn (10 March 2026).
G+T Insight – ASX sheds light on good fame and character assessments for officers with a past – discusses ASX’s latest guidance – Adam D’Andreti and Hayden Rayen (9 March 2026).
G+T Insight – The Competitive Edge Podcast –Liana Witt and David Holmes discuss the government's plan to prohibit unfair trading practices – Moya Dodd and Matt Rubinstein (5 March 2026).
G+T Insight – Financial Services: Regulatory Recap week commencing 2 March 2026 – Luke Barrett, Peter Reeves, Rachel Walker and Silvana Wood (5 March 2026).
G+T Insight – Boardroom Brief Week Commencing 2 March 2026 – Justin Mannolini and Rachael Griffiths-Szeto (4 March 2026).
G+T Insight – NSW Climate Change and Natural Hazards SEPP: Planning for a resilient future – discusses the intended effect of the proposed CC&NH SEPP – Ilona Millar, Alexander Kingsbury and Tom Webb (3 March 2026).
G+T Insight – Merger reforms: special obligations for major supermarkets – discusses special obligations applying to major supermarkets introduced by the regime – Elizabeth Avery, Simon Muys, Charles Coorey, Louise Klamka, Jeremy Jose, Andrew Low, Geoff Peterson, Tanya Macdonald and Liana Witt (2 March 2026).
G+T Insight – Australia's new merger reforms: impact on real asset transactions – outlines key implications for real asset transactions – Elizabeth Avery, Simon Muys, Charles Coorey, Louise Klamka, Jeremy Jose, Andrew Low, Geoff Peterson, Tanya Macdonald and Liana Witt (2 March 2026).
G+T Insight – Merger reforms: key takeaways for PE investors – sets out key takeaways for private equity investors – Elizabeth Avery, Simon Muys, Charles Coorey, Louise Klamka, Jeremy Jose, Andrew Low, Geoff Peterson, Tanya Macdonald and Liana Witt (2 March 2026).
G+T Insight – Community energy at scale: unlocking Australia’s next energy frontier – discusses how to move from individual participation to shared and genuine community ownership of energy infrastructure – Ilona Millar and Tom Webb (2 March 2026).
Calendar dates
17 March 2026 – Submission responses for the review of the Amended Unfair Contract Terms Protections.
- 31 March 2026 – (1) Amended AML/CTF obligations commence for existing reporting entities; and (2) Tranche two entities may enrol as reporting entities with AUSTRAC.
- 1 July 2026 – Key AML/CTF obligations commence for lawyers under reforms to Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
1 July 2026 – Payday Super reforms commence.
13 July 2026 – Key CDR obligations commence for non-bank lenders.