Financial Compliance

NSW Fair Trading Suspends Strata Agent Licence Pending Investigation

NSW Fair Trading has suspended the licence of strata managing agent Ms Christine Ng pending an investigation into alleged misconduct, including failure to pay money into trust accounts and breaching conduct rules. The suspension prevents Ms Ng from operating as a real estate or strata managing agent.

Fair Trading Suspends Agent for Misrepresentation, Disqualifies Another for Fraud

NSW Fair Trading has suspended one real estate agent's license for 60 days due to misrepresenting prices and failing to pass on offers. In a separate action, another agent was disqualified for five years and faces further investigation for misappropriating approximately $300,000 in trust funds.

NSW Fair Trading Warns Bondi United for False Terror Attack Links

NSW Fair Trading has issued a public warning against Bondi United for falsely claiming links to the Bondi Beach terror attack. The agency took action after investigations revealed misleading conduct, and the business has indicated it will offer refunds to consumers. This action highlights the government's commitment to protecting consumers from exploitation following tragic events.

RBA Update on BECS Decommissioning Recommendations

The Reserve Bank of Australia (RBA) has released an update on industry progress regarding the decommissioning of the Bulk Electronic Clearing System (BECS). While acknowledging industry efforts, the RBA notes that risks persist due to a lack of consensus on the future of account-to-account payments.

Payments System Board Discusses Cash Distribution and Regulatory Framework

The Reserve Bank of Australia's Payments System Board met in March 2026 to discuss cash distribution, merchant card costs, payments system resilience, and account-to-account payments. The Board is considering a new regulatory framework for cash distribution services and potential amendments to card payment regulations, with a conclusions paper expected by end-March.

RBA Guidance for Australian Clearing and Settlement Facility Resolution Regime

The Reserve Bank of Australia (RBA) has published final guidance on its Clearing and Settlement (CS) Facility Resolution Regime. This guidance, developed after a consultation period, outlines the RBA's approach to using its resolution powers over CS facilities to ensure financial system stability.

Reserve Bank of Australia Monetary Policy Board Appointment

The Reserve Bank of Australia announced the appointment of Professor Bruce Preston to its Monetary Policy Board. This notice also acknowledges the contributions of Alison Watkins, whose term concludes on February 28, 2026.

Reserve Bank of Australia Increases Cash Rate to 3.85%

The Reserve Bank of Australia's Monetary Policy Board has increased the cash rate target by 25 basis points to 3.85%. This decision was made due to rising inflation and capacity pressures, with inflation expected to remain above target for some time.

ACCC Monitoring of Fuel Prices

The Australian Competition and Consumer Commission (ACCC) has launched a new weekly fuel price monitoring update, highlighting significant and rapid price variations in petrol and diesel across Australian capital cities. The ACCC is seeking explanations from major fuel retailers regarding these price movements.

ACCC: Hyatt changes card surcharges after investigation

The Australian Competition and Consumer Commission (ACCC) announced that Hyatt hotels in Australia have changed their card payment surcharging practices following an ACCC investigation. Hyatt Regency Sydney was found to be charging debit card surcharges above its costs, in breach of the Competition and Consumer Act. All Hyatt hotels in Australia have now implemented changes to ensure compliance.