On the pulse
- ASIC consults on financial resources requirements for market operators – see media release.
- ASIC begins further review of financial adviser qualifications – see media release.
- ASIC updates guidance on AFCA oversight for the Scams Prevention Framework – see media release.
- ASIC consults on relief and guidance for the new foreign financial services provider regime – see media release.
- ASIC calls out super trustees for blind spots in overseeing member complaints – see media release.
- APRA responds to consultation on amendments to superannuation data collections – see media release.
- AUSTRAC: The Star ordered to pay $260 million for serious AML/CTF breaches – see media release.
- AUSTRAC: shell companies, crypto and offshore transfers reveal the business of money laundering – see media release.
- Treasury: new direction for financial security regulator to boost productivity – see media release.
- RBA designation of Prosegur Australia Pty Ltd under the Cash Distribution Framework Act 2026 – see media release.
ASIC
ASIC consults on financial resources requirements for market operators
On 30 October 2026, ASIC announced that it is consulting on proposals for clearer guidance on financial resources requirements for licensed market operators in Australia.
The draft proposed updates to Regulatory Guide 172 Financial Markets: Domestic and overseas operators aim to support market resilience by providing greater clarity on the amount and types of financial resources required to support resilience and how to interpret ASIC's guidance.
ASIC begins further review of financial adviser qualifications
On 30 October 2026, ASIC announced that it has commenced a further review of the Financial Advisers Register to check whether relevant providers have met the qualifications standard.
The targeted review will examine a sample of qualifications and training courses that Australian financial services licensees have recorded on the register as contributing toward their relevant providers meeting the standard.
ASIC is also continuing to monitor notifications about relevant providers relying on the experienced provider pathway to meet the standard.
ASIC updates guidance on AFCA oversight for the Scams Prevention Framework
On 27 October 2026, ASIC announced that it is consulting on proposed updated guidance for its oversight of the Australian Financial Complaints Authority (AFCA) ahead of the incoming Scams Prevention Framework (SPF).
The updates to Regulatory Guide 267 Oversight of the Australian Financial Complaints Authority reflect AFCA's expanded jurisdiction under the SPF when it commences on 31 March 2027. The SPF was introduced by the Australian Government to strengthen consumer protections across multiple sectors, including banking. AFCA will consider scam-related complaints in relation to the initial sectors that will come under the framework – banking, telecommunications and digital platforms.
ASIC consults on relief and guidance for the new foreign financial services provider regime
On 6 November 2026, ASIC announced that it is seeking feedback on proposals to support the transition to the new foreign financial services provider (FFSP) regime, which commences on 8 April 2027. ASIC proposes to extend existing transitional relief for FFSPs by six months, provide conditional class relief under the new professional investor exemption and publish regulatory guidance.
ASIC is also explaining how providers can notify ASIC of the exemptions they intend to rely on under the new regime. The proposals aim to give industry regulatory certainty and support a smooth transition to the new regime.
Submissions close 4 December 2026.
See ASIC's consultation.
ASIC calls out super trustees for blind spots in overseeing member complaints
On 2 November 2026, ASIC announced that it is urging superannuation trustees to take accountability for blind spots in their oversight of issues arising from member complaints after a review identified concerning weaknesses that could expose Australians to avoidable harm.
ASIC Commissioner Simone Constant said findings detailed in Report 844 Lessons to be learned: How trustees use insights from superannuation complaints suggest too many trustees are failing to treat complaints as an early warning signal for service failures affecting members.
APRA
APRA responds to consultation on amendments to superannuation data collections
On 27 October 2026, APRA announced that it has released a response to its consultation on the transition of superannuation data collections from Direct to APRA to APRA Connect. APRA is updating the reporting standards to ensure consistency with other collections in APRA Connect.
AUSTRAC
AUSTRAC: The Star ordered to pay $260 million for serious AML/CTF breaches
On 28 October 2026, AUSTRAC announced that the Federal Court ordered The Star Entertainment Group (The Star) to pay a penalty of $260 million following findings that the casino operator breached Australia's anti-money laundering and counter-terrorism financing (AML/CTF) laws.
This follows other significant penalties and regulatory action imposed on The Star following Queensland and New South Wales casino inquiries for related regulatory failings.
The Court found that The Star failed to maintain a compliant AML/CTF program and failed to monitor customers to identify, mitigate and manage money laundering and terrorism financing risks. "The Court found The Star did not simply fail to complete the right checks. It allowed high-risk customers to gamble without properly establishing where their money came from and put profit over compliance on a large scale," AUSTRAC CEO Brendan Thomas said.
AUSTRAC: shell companies, crypto and offshore transfers reveal the business of money laundering
On 3 November 2026, AUSTRAC announced that an alleged transnational money laundering network suspected of laundering more than $123 million for multiple organised crime syndicates shows how criminals can provide financial infrastructure and services to other criminals. AUSTRAC has supported a Taskforce Avarus investigation into the group, which allegedly converted criminal cash into cryptocurrency and moved funds offshore through shell companies operating as corporate money mules.
Other bodies and regulators
Treasury: new direction for financial security regulator to boost productivity
On 5 November 2026, Treasury announced that the government is putting productivity and economic growth at the centre of its expectations for the Australian Financial Security Authority, with a renewed focus on reducing unnecessary regulatory burdens, unlocking investment and helping Australians return to economic participation. A new Statement of Expectations sets out how the Australian Financial Security Authority can better support businesses and individuals while maintaining financial stability, market integrity and strong consumer protections.
RBA designation of Prosegur Australia Pty Ltd under the Cash Distribution Framework Act 2026
On 6 November 2026, the RBA announced that it has designated Prosegur Australia Pty Ltd under the Cash Distribution Framework Act 2026, meaning it is a regulated entity under the Act and subject to the obligations and requirements designed to support a sustainable, resilient and efficient cash distribution system in Australia.
G+T articles
- G+T Insight – Federal Court orders Apple to make changes to Australian App Store payment restrictions in Epic litigation(27 October 2026)
- G+T Insight – Corporate Advisory Update | October 2026– Ilona Hunnisett (29 October 2026)
- G+T Insight – In-Depth Acquisition and Leveraged Finance Edition 13– John Schembri and Erin Cartledge (29 October 2026)
- G+T Insight – Crypto asset tax transparency: Treasury releases draft legislation– Peter Reeves, Georgina Willcock, Vince Battaglia, Emily Shen, Stephanie Choong, Amiinah Dulull and Maya Ruber (30 October 2026)
- G+T Insight – From negotiation to implementation: what to expect at COP31 in Türkiye– Ilona Millar, Tom Webb and Lily Morton (3 November 2026)
- G+T Insight – Who really controls the GPUs?– Ross Phillipson and James Frixou (6 November 2026)
- G+T Insight – The Legal 500 Country Comparative Guides 2026 – Australia: Blockchain & Crypto Assets– Peter Reeves, Emily Shen and Stephanie Choong (6 November 2026)
Calendar dates
- 9 November 2026 – Consumer data sharing obligations commence for a non-bank lender that is an 'initial provider'.
- 27 November 2026 – ASIC consultation on proposed standards and guidance for digital asset platforms closes.
- 10 December 2026 – Automated decision-making processes under the Privacy and Other Legislation Amendment Bill 2024 to commence.
- 31 March 2027 – Obligations for covered banking services under the Scams Prevention Framework commence.
- 8 April 2027 – Corporations Amendment (Digital Assets Framework) Act 2026 commences operation.
- 8 April 2027 – New licensing exemptions for foreign financial service providers will commence.
- 1 July 2027 – Mandatory climate-related financial disclosures for Group 3 entities apply in respect of financial years starting on or after this date.
- 1 July 2027 – New director ID requirements to apply.