Australia

RBA Financial Stability Review - March 2026

The Reserve Bank of Australia (RBA) has released its March 2026 Financial Stability Review. The review notes increased global financial system risks due to geopolitical conflict and cyber threats, but finds Australia's financial system remains resilient.

APRA: in1Bank Completes Return of Deposits Process

APRA notes that in1Bank Limited has successfully completed its return of deposits process, transferring the final 14 accounts totaling approximately $14,500 to Commonwealth Bank of Australia (CBA). in1Bank is expected to formally relinquish its banking license in the coming weeks.

ASIC v. Sunshine Loans - High Court Ruling on Recusal

The Australian Securities and Investments Commission (ASIC) has won a High Court appeal against Sunshine Loans. The High Court unanimously rejected Sunshine Loans' appeal regarding the recusal of a judge, allowing the original judge to determine penalties for unlawful fees charged by Sunshine Loans.

ASIC Consults on Increasing Net Tangible Assets for Responsible Entities

ASIC is consulting on proposals to increase the Net Tangible Assets (NTA) requirement for responsible entities of registered managed investment schemes. The consultation also seeks feedback on increasing NTA requirements for other fund operators and will inform future ASIC work. Feedback is due by April 17, 2026.

ACCC Competition and Consumer Enforcement News Updates

The Australian Competition and Consumer Commission (ACCC) has published an update regarding discussions at an emergency fuel meeting. The meeting focused on consumer impacts and regional supply issues, with fuel companies outlining these concerns.

ACCC News Updates on Enforcement, Competition, and Consumer Issues

The Australian Competition and Consumer Commission (ACCC) provides updates on its enforcement, competition, and consumer news. Recent items include discussions on fuel prices and surcharging practices, highlighting ongoing monitoring and engagement with industry.

ASIC Secures Record $350M Civil Penalties and $583M in Refunds

ASIC announced record civil penalties of $349.8 million and $583 million in refunds and payments to Australians for the second half of 2025. These outcomes resulted from successful enforcement actions against major companies and super trustees for serious misconduct.

Macquarie Securities fined $35 million for short sale misreporting

The New South Wales Supreme Court has ordered Macquarie Securities (Australia) Limited (MSAL) to pay a $35 million penalty for systemic failures that led to the misreporting of tens of millions of short sales over more than a decade. ASIC initiated civil proceedings against MSAL in May 2025.

ASIC Disqualifies Director for Five Years Due to Company Failures and Fraud

ASIC has disqualified Vincenzo Frank Tesoriero from managing corporations for five years due to his involvement in the failure of 20 companies. The disqualification stems from improper conduct, including facilitating fraudulent transactions and failing to maintain adequate records.

ASIC Disqualifies Director Simon Raftery for Two Years and Six Months

ASIC has disqualified Simon Raftery from managing corporations for two and a half years due to his involvement in five failed companies that owed approximately $43 million. Mr. Raftery's application for a stay on the disqualification decision was refused by the Administrative Review Tribunal.