The NAB breached the Corporations Act on 2,285 occasions between 2013 and 2019 when charging 1,382 clients more than A$2 million
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Complex Cryptocurrencies Sector Features in Two Parliamentary Inquiries in Trans-Tasman Region
New Zealand and Australian Parliaments are holding formal Inquiries into the cryptocurrency sector at select committee level.
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Tax Evasion is Illegal, but not an Offence. Does AUSTRAC Understand its Own Risks?
Unlike some countries (such as the US), Australia’s legislative references to tax “evasion” do not refer to a criminal offence or even a category of criminal offences.
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Lessons from Asia: How to handle the return to work
It is important for organisations to get their “return to work” right — not just for employee and customer safety, but also to retain their workforce.
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GCs need to focus on corruption risk as offices reopen
General Counsel need to greet their organisation’s office reopening with increased vigilance regarding the management of the risk of corruption.
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AUSTRAC urges businesses to update risk assessments, following FATF reports
The Australian anti-money laundering regulator has urged reporting entities to review their risk assessments and compliance controls in the context of two new reports from the Financial Action Task Force (FATF)
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ANALYSIS: New Zealand’s first banking AML penalty provides key lessons for financial sector
The Reserve Bank of New Zealand has wrapped up its first civil litigation under the anti-money laundering and counter-financing of terrorism regime.
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Corporate tax departments need to address tech skills gap, report says
The single biggest skills gap within corporate tax teams is advanced technology skills, the 2021 State of the Corporate Tax Department report finds.
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Crown Royal Commission submissions raised questions about directors’ duties
The Royal Commission’s most senior lawyer went on to outline how Crown management and its culture had put profit ahead of integrity, regulation and the law.
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AMP reinvents advice model in wake of bruising Royal Commission findings
The company said the new service model, with its aligned advice network, would mark a “new era for financial advice at AMP”.
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