Financial Markets
RBA seeks feedback on RITS consultation
On 3 September 2026, the RBA announced it is seeking feedback on the role of the Reserve Bank Information and Transfer System (RITS) in supporting settlement in a tokenised ecosystem.
The consultation seeks feedback on how the RBA’s settlement services could support the development and growth of tokenised asset markets and tokenised private money in Australia. In particular, views are sought on:
- synchronisation of tokenised assets with settlement services;
- exchange between different forms of tokenised private money;
- access to central bank reserves in stablecoin arrangements; and
- design considerations for tokenised central bank reserves.
The consultation is one of several initiatives identified in Project Acacia as forming the basis of a future program of work aimed at ensuring Australia's money, payments and settlement arrangements remain fit for the future.
Feedback on the consultation is due by 30 October 2026.
See: Media Release, Consultation
Insurance
APRA publishes response to consultation on transition of Life Insurance D2A data collections to APRA Connect
On 31 August 2026, APRA published its response to consultation on the transition of three life insurance "Direct to APRA" (D2A) data collections to the APRA Connect platform.
The three reporting standards being updated are:
- LRS 112.3 – Related Party Exposures;
- LRS 114.2 – Derivatives Activity; and
- LRS 114.3 – Off-balance Sheet Business.
The transition to APRA Connect is intended to provide life companies with a single reporting platform, streamline data management processes, and reduce overall reporting requirements.
The revised reporting standards will apply to reporting periods ending on or after 31 December 2026 and the updated collections will be available in the APRA Connect External Test environment by the end of September 2026.
See: Media Release
Superannuation
ASIC and APRA host superannuation CEO roundtables on frontier AI, cyber and operational resilience
On 1 September 2026, ASIC and APRA released public notes from the latest superannuation CEO roundtables, held on 24 and 30 June 2026. The regulators jointly hosted superannuation chief executive officers representing a broad cross-section of the industry.
The key points from the discussion included:
- increasing intersection of frontier AI, cyber risk and operational resilience with a broad recognition that AI is accelerating the speed, scale and sophistication of existing cyber threats. The importance of strong cyber fundamentals, governance and resilient operating models was reinforced; and
- geopolitical risks, crisis preparedness and their increasing prominence in board and executive discussions. Broad acknowledgment that preparedness should focus on building organisational resilience, decision-making capability and crisis response capacity.
See: Media Release, Notes
AML/CTF
AUSTRAC intensifies scrutiny on high-risk payments
On 7 September 2026, AUSTRAC announced that it had cancelled, suspended or refused the renewal of 45 remittance and virtual asset service provider (VASP) registrations over the past year, removing those businesses from its registers.
AUSTRAC’s actions targeted businesses that:
- lacked operational capacity;
- were dormant or inactive;
- had not provided designated services for extended periods;
- were insolvent;
- failed to hold the appropriate registration;
- did not notify AUSTRAC of material changes; or
- otherwise posed significant money laundering or terrorism financing (ML/TF) risk.
See: Media Release
Fintech
ASIC issues reminder for firms to act before digital asset licensing deadline
On 2 September 2026, ASIC issued a reminder for businesses relying on its sector-wide no-action position for digital asset providers that they must apply for or vary an Australian financial services licence by 30 September 2026 or risk operating in breach of the law.
Firms that require an Australian market licence or Australian clearing and settlement facility licence must also notify ASIC in writing and hold a pre-application meeting by the 30 September deadline.
The Corporations Amendment (Digital Assets Framework) Act 2026 (DAF Act) comes into effect on 9 April 2027, and the implementation roadmap includes consulting on new standards and guidance, releasing regulatory guides and ongoing industry engagement.
See: Media Release, DAF Act
Other
ASIC and APRA seek feedback on FAR streamlining
On 2 September 2026, ASIC and APRA announced they were seeking feedback on proposed changes to streamline aspects of the Financial Accountability Regime (FAR).
The proposals include removing key functions requirements from the FAR regulator rules and no longer requiring information on accountable persons’ direct reports in accountability maps.
ASIC and APRA estimate the changes will reduce reporting for all accountable entities and approximately 4,500 accountable people, and halve the number of updates to accountability maps.
Subject to consultation feedback, the regulators intend to finalise the changes by the end of 2026, with effect from early 2027.
Feedback must be provided by 2 October 2026.
See: Media Release, Consultation
AFCA seeks feedback on proposed scam rules
On 31 August 2026, AFCA announced it is seeking feedback on proposed changes to its Rules to enable it to consider scam-related complaints under the Scams Prevention Framework (SPF).
In June 2026, the Australian Government authorised AFCA as the single external dispute resolution scheme for scam complaints under the SPF from 31 March 2027. Accordingly, AFCA must amend its Rules to establish a new jurisdiction for SPF complaints that reflects the requirements of the new legislative framework.
Feedback on the proposal is due by 28 September 2026.
See: Media Release, Consultation
Authors: Jonathan Gordon, Partner; Corey McHattan, Partner; Samantha Carroll, Partner; Hong-Viet Nguyen, Partner and Charlotte Ekins, Graduate.
