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Australian Financial Services Regulatory Update - July 2021 | Jones Day

Australian Financial Services Regulatory Update - July 2021 | Jones Day
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Greenpeace ends bitcoin donations; Commerzbank tests digital supply chain

Greenpeace ends bitcoin donations; Commerzbank tests digital supply chain
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ePayments Code to cover small business

ePayments Code to cover small business
ePayments Code to cover small business
24 May 2021 6:16AM
The ePayments Code may be extended to small business and will be brought up to date to include coverage of NPP payments.
These are among proposals included in a consultation paper issued by ASIC on Friday detailing the results of a review of the code.
Other proposals include removing the requirement that code subscribers report to ASIC annually, while giving ASIC additional monitoring functions. ADIs would be required to provide additional on-screen warnings about mistaken internet payments.
And in a series of changes to update the code, ASIC will define biometric authentication in the code, include virtual debit and credit cards in the definition of “payment card instrument” and include electronic receipts in the code’s provisions relating to transaction receipts. ....

Payments Code , கொடுப்பனவுகள் குறியீடு ,

ASIC consults on updates to ePayments Code

complaints handling.
The review also considers options for modernising the Code, to reflect changes in the field of electronic payments since the Code’s last review.
The consultation paper is designed to assist ASIC to form its final positions on updates to the Code. ASIC welcomes submissions on CP 341 from all interested parties.
Submissions are due by Friday 2 July 2021.
Next steps
After receiving submissions on the consultation paper, ASIC will consider stakeholder feedback and issue a report outlining final positions. ASIC will also publish a draft updated Code for stakeholder feedback on the format and technical wording of the Code. ....

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ASIC consults on ePayment Code reforms

By
Kate Weber
on May 21, 2021 1:08PM
Looks to make code mandatory, define biometric authentication.
The Australian Securities and Investments Commission (ASIC) today released a consultation paper requesting feedback on planned updates to the ePayments Code.
The regulator is looking to update the ten-year-old code to ensure it remains effective within the growing and evolving payment landscape.
Formerly known as the Electronic Funds Transfer Code of Conduct (EFT Code), the ePayment Code helps regulate electronic payments services in Australia.
This is ASIC’s second consultation on the ePayments Code after its first 2019 review.
The voluntary code bounds participating financial services to provide transparency around terms and conditions and assists with consumer payment issues. ....

United States , Investments Commission , American Express , Australian Securities , Electronic Funds Transfer Code , Epayment Code , Payments Code , New Payments Platform , Digital Payments , Epayment Code , ஒன்றுபட்டது மாநிலங்களில் , முதலீடுகள் தரகு , அமெரிக்கன் எக்ஸ்பிரஸ் , ஆஸ்திரேலிய பத்திரங்கள் , கட்டணம் குறியீடு , கொடுப்பனவுகள் குறியீடு , புதியது கொடுப்பனவுகள் நடைமேடை , டிஜிட்டல் கொடுப்பனவுகள் ,