Regulatory bodies mandate comprehensive due diligence to ensure compliance with international sanctions. A detailed company history is instrumental in meeting these legal obligations and avoiding hefty penalties.

In this edition, find the latest news on a Second H-1B Lottery, the Visa Bulletin, STEM Degrees added to Program List, and much more!

This week, AFCA released its preliminary complaints data for the 2023/24 financial year as well as its finalised schedule for issuing future guidance. A new ASIC instrument was also registered relating to disclosure methods for ETFs and quoted ED securities.

ASIC was busy this week issuing a reminder about upcoming new financial reporting obligations and providing an update about its second successful DDO prosecution.

The Regulation on the Procedures and Principles Regarding the Transfer of Personal Data Abroad (“Regulation”) was published in the Official Gazette dated 10.07.2024.