Compliance training solutions and CPD courses for banking and financial workplaces.

The Australian Prudential Regulation Authority (APRA) has released a response to its consultation on minor proposals for instruments relating to section 66 of the Banking Act 1959 (the Banking Act).

Under section 66 of the Banking Act, certain words and expressions are restricted in use within the context of a financial business, such as the use of the word “bank”, and words of like import, unless APRA has provided written consent for a person or class of persons to use those words and expressions.

APRA has updated a class exemption that allows foreign entities to use restricted terms when issuing debt securities in wholesale capital markets. The exemption now captures a broader set of foreign entities that commonly seek APRA’s consent, reducing administrative burden for these entities. Other aspects of the exemption remain unchanged.

A letter outlining APRA’s response to submissions and the final legislative instrument is available at: Banking Act exemptions and section 66 guidelines

Former finance director Brendan Gunn has been sentenced in the Local Court of NSW for dealing with over $180,000 when it was reasonable to suspect that those funds were proceeds of crime.

View the full media release.

Commissioner Alan Kirkland delivered a speech at the Mortgage and Finance Association of Australia Conference in Melbourne on 22 July 2026.

Here are the highlights of Alan’s remarks:

• Home lending is the largest area of consumer credit in Australia, with 81% of new residential mortgages arranged by brokers.
• It is essential that brokers maintain trust by putting customers first, providing quality advice, and remedying failures quickly.
• ASIC is conducting a review of the mortgage broking sector to better understand how well brokers are complying with their best interests duty.

Find out more in the full speech.

ASIC has written to registered company auditors reminding them of their legal, ethical and professional obligations, and the importance of protecting public confidence in the audit profession.

View the full media release.

ASIC has cancelled the registered agent status of Registry Australia Pty Ltd for breaches of ASIC’s Registered Agent Terms and Conditions.

View the full media release.

The Australian Prudential Regulation Authority (APRA) has granted Revolut Payments Australia Pty Ltd a licence to operate as an authorised-deposit taking institution (ADI) under the Banking Act 1959 (the Act). Concurrently, APRA has also licensed Revolut Australia NOHC Pty Ltd as a non-operating holding company (NOHC) under the Act.

An updated list of all APRA-authorised ADIs and NOHCs can be found on the APRA website at: List of registered authorised deposit-taking institutions and List of non-operating holding companies.

The Australian Prudential Regulation Authority (APRA) has published its Statement of Intent (SoI) in response to the Government’s Statement of Expectations (SoE).

The SoI sets out how APRA will meet the Government’s expectations across its role and responsibilities, policy priorities, regulatory approach, relationships with external stakeholder and organisational matters. It also reaffirms APRA’s commitment to being a high-performing prudential regulator that serves the interests of the Australian community.

View the updated SoI and SoE on APRA’s website: Government expectations of APRA

WealthHub Securities Limited (WealthHub), an online broker owned by National Australia Bank (NAB), has been fined $1.055 million by the Markets Disciplinary Panel (MDP) relating to failures to accurately report regulatory data more than 9.5 million times over a 10-year period.

View the full media release.

Former South Australian insurance broker and company director Craig John Horsell has been ordered to serve a previously suspended three-year prison sentence imposed following an ASIC investigation more than a decade ago, after breaching the conditions of his release by committing a further criminal offence.

View the full media release.

The Australian Prudential Regulation Authority (APRA) has granted Taipei Fubon Commercial Bank Co., Ltd a licence to operate as a foreign authorised deposit-taking institution (Foreign-ADI) under the Banking Act 1959.

An updated list of all APRA-authorised ADIs can be found on the APRA website at: List of registered authorised deposit-taking institutions

Multinational investment bank Deutsche Bank Aktiengesellschaft (Deutsche Bank) has paid a penalty of $2 million for misreporting more than 260,000 over-the-counter (OTC) derivative transactions, undermining the accuracy of data used to monitor Australia’s financial markets.

View the full media release.

The Australian Prudential Regulation Authority (APRA) has released for consultation a number of minor updates to the prudential and reporting framework for authorised deposit-taking institutions (ADIs), general, life and private health insurers and registrable superannuation entity (RSE) licensees.

This consultation is part of the minor framework update process, intended to ensure technical and clarifying changes to the prudential framework can be made in a timely manner. The proposed amendments are primarily technical clarifications and do not present any material change in policy settings.

Submissions are requested to be provided no later than 21 August 2026.

The letter to ADIs, insurers and RSE licensees, draft standards and draft guidance are available on the APRA website at: Minor updates to the prudential framework

ASIC has cancelled the Australian financial services (AFS) licence of CAIP Services Pty Ltd effective from 8 July 2026.  

View the full media release.

ASIC has cancelled the Australian financial services (AFS) licence of contracts for difference (CFD) issuer Trive Financial Services Australia Pty Ltd (Trive), effective 1 July 2026.

View the full media release.

The Australian Prudential Regulation Authority (APRA) has published additional guidance on reporting points of presence collection.

The guidance clarifies how ADIs should report co‑located service channels to support consistent and comparable data across the industry.

Information regarding the guidance can be found on the APRA website through the following links:

• Guidance on points of presence reporting for co‑located face‑to‑face service channels
• Authorised deposit taking institutions points of presence – frequently asked questions