Australia urged to tackle errant banking practices

The transaction is the latest in Citi’s plans to divest from its consumer businesses in Asia and EMEA.

The move by Australia to phase out the bonds may reflect the unusually high level of retail investor holdings of AT1 instruments in the country, Fitch Ratings said.

The new regulation is targeting digital asset and payment service providers in both cryptocurrencies and stablecoins; draft legislation is expected by the end of 2025.

Rob Ward joins from MUFG to lead Natixis CIB’s Australia and New Zealand operations, bringing extensive energy and infrastructure expertise.

The ASX has new leadership with former Euronext executive Anthony Attia taking over in September, and he takes the role at a critical point for the exchange.

China is strengthening oversight of outbound investment through new regulations from July 1 that are designed to safeguard national interests, following an earlier ban on Meta’s acquisition of AI firm Manus.