Australia: Finance and Banking

APRA has published a letter to industry calling for a step-change in how banks, insurers and superannuation trustees manage and govern AI-related risks.

The 2026-27 Federal Budget introduced the most significant capital gains tax reforms in 25 years, replacing the 50% CGT discount with cost base indexation and a 30% minimum tax. Combined with new ASIC instruments on stamp duty and portfolio holdings disclosure, investment fund managers face coordinated disclosure, operational and structural challenges requiring substantial work over the next 12 to 18 months.

EMIR reporting has transitioned to XML file structures with embedded XSD schema validation, introducing new complexity and potential error points. Understanding the nine most common XML validation errors—from incorrect element ordering to pattern constraint violations—is essential for maintaining smooth regulatory reporting processes and avoiding submission rejections.