Edition:
United States

Nathan Lynch

Australia to extend money laundering laws

Sep 13 2016

SYDNEY, Sept 14 The Australian government is reviving long-stalled plans to extend anti-money laundering and counter-terrorist financing laws to capture lawyers, accountants, real estate agents and jewellers, Justice Minister Michael Keenan said.

As Australian banks snub remitters, digital players emerge

May 02 2016

SYDNEY Digital money transfer companies including PayPal Holdings are rushing to grab a share of Australia's $35 billion remittance market, hoping to plug a vacuum left by the major domestic banks' exit from the space last year. U.S.-listed PayPal intends to roll out its online remitting platform Xoom into Australia soon, senior executives told Reuters, while U.K.-based WorldRemit in April said it had chosen Australia as its Asia-Pacific base.

Australian regulator starts legal action against Westpac over alleged rate-fixing

Apr 05 2016

SYDNEY Australia's securities regulator said on Tuesday it has started legal action against Westpac Banking Corp for allegedly fixing the bank bill swap reference rate (BBSW), an allegation the bank said it rejects.

Australia is ideal testing ground for blockchain-based trading, says Masters

Mar 22 2016

SYDNEY Blythe Masters, the banker widely credited with inventing the credit default swap, has set her sights on a new target for innovation and disruption: Australia's securities trading infrastructure.

Australia plans new interbank rate-setting scheme by year-end

Feb 15 2016

SYDNEY, Feb 15 Australia will move to a new process by the end of this year for setting its credit market reference rate, even as the corporate regulator reportedly prepares to launch its first civil action for attempted rate rigging.

Fee concerns cloud Australia corporate registry sale

Sep 03 2015

SYDNEY, Sept 3 The Australian government is under fire over proposed changes to the fees charged by its corporate regulator's registry arm ahead of the unit's possible sale, with critics warning against double-dipping and fee-gouging to boost the asset's value.

Australian benchmark offers new model for tarnished Libor

Jul 17 2012

SYDNEY Australia's market interest-rate setting mechanism could provide an improved model to the London interbank offered rate, a global benchmark under a cloud for manipulated contributions, because of a key difference -- it uses actual deals to determine rates.

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