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.
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.
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.
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.
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
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.
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.