Banking and finance trends to watch

Make a fresh and prosperous start to the New Year by getting an early roll on your risk and compliance management planning.

Banking and finance trends to watch include:

Regulator strategic priorities

• Scam prevention and investor protections
• Superannuation and retirement outcomes
• Insurance claims handling
• Assisting customers experiencing vulnerability

Regulatory frameworks

• Financial Accountability Regime (FAR) commences for insurers and superannuation trustees
• CPS 230 Operational Risk Management comes into effect
• Buy now pay later licensing introduced
• Quality of advice reforms
• Modernisation of Australia’s payment system
• Regulation of crypto and digital assets

Cross-industry highlights

• Sustainability risk decision-making, disclosures, and reporting
• Privacy, information security, and cyber resilience
• Ethical use of artificial intelligence (AI)
• Consumer Data Right expansion and rule changes
• Preparation for AML/CTF reforms, especially Tranche 2 entities

Product and service innovation

• Trading apps and micro investing
• Crypto assets
• Private credit
• Discretionary mutual funds
• Raising capital or investing through crowdfunding

For more of what ASIC, AUSTRAC, Treasury and APRA have been up to lately, head to our Regulatory News page.