Regulatory Tracker Update – What's Happened Since January 2026?

Authored by Jack Wheatstone

Since the last update to our Corporate Governance Regulatory Tracker in January 2026, we have seen extensive updates across a variety of areas in the Australian regulatory landscape. These changes include further amendments to accommodate the expanded AML/CTF Regime, proposed new regulations and guidance around privacy, AI, and cyber security, the ASX Corporate Governance Council’s work on the 5^th edition ASX Corporate Governance Principles and Recommendations, and even further amendments to the Financial Accountability Regime.

A summary of the changes we have updated in the tracker include:

Anti-Money Laundering and Counter-Terrorism Financing: Tracking the continued reform to Australia’s AML/CTF regime, including:

• The introduction of the Anti-Money Laundering and Counter-Terrorism Financing Bill into Parliament on 12 March 2026;

• The Anti-Money Laundering and Counter-Terrorism Financial (2025 Rules) Amendment Rules 2026 coming into force;

• AUSTRAC’s announcement of changes to transaction reporting from 1 July 2026; and

• AUSTRAC’s release of updated guidance for newly regulated entities on 17 June 2026;

Modern Slavery: Tracking the progress of law reform to Australia’s modern slavery regime, including:

• The Office of the Anti-Slavery Commissioner’s release of an initial position paper, setting out its recommendations to strengthen Australia’s modern slavery laws on 30 January 2026; and

• The Australian Anti-Slavery Commissioner’s acknowledgement of the UN Committee on Economic, Social and Cultural Rights recommendation for Australia to introduce mandatory human rights due diligence, stronger monitoring and enforcement mechanisms, proportionate penalties, and improved access to remedies on 3 March 2026.

Climate Reporting: Tracking updates to Australia’s mandatory climate reporting regime as new tranches of reporting entities continue to begin their first mandatory climate reporting processes, including:

• The introduction of the Treasury Laws Amendment (Financial Reporting System Reform) Bill 2026 into Parliament on 12 February 2026, proposing amendments to the ASIC Act to combine AASB, AUASB and FRC into External Reporting Australia;

• ASIC’s release of its early observations from its review of initial sustainability reports prepared under Chapter 2M of the Corporations Act on 18 May 2026; and

• ASIC’s publication of its Reporting and audit update – Issue 4 on 29 May 2026, covering sustainability reporting developments.

Consumer Data Right: Tracking the ongoing changes being introduced as part of Australia’s new consumer data right, including the release of version 3 of the CDR participant on-boarding guide on 30 January 2026.

Corporate Governance Principles and Recommendations: Tracking the ASX’s progress on updating the ASX Corporate Governance Principles and Recommendations, including:

• The release of the ASX Corporate Governance Council’s communique’s on:

  • 1 April 2026 - indicating that the Principles and Recommendations will retain the “if not, why not approach”, as well as its approach to explanatory materials, and diversity targets for Boards; and

  • 11 May 2026 – confirming that the Principles and Recommendations will retain the existing eight Principles, draw on the work of the former Council, and announcing that a public consultation will commence in Mid-July 2026.

Capital Markets: Tracking the progress of the proposed reform to Australia’s public and private capital markets, including:

• ASIC’s commencement of consultation for proposed updates to RG 172, RG 249 and RG 268 on 20 April 2026 on 20 April 2026, set to conclude on 27 July 2026;

• ASIC’s update to RG 55, RG 67, RG 71, RG 110, RG 228 and RG 253 on 4 June 2026, to introduce reference to crowd-sourced funding; and

• ASIC’s release of CP 389 for a proposed regulatory guide on pre-hedging.

Cyber Security: Tracking reforms to Australia’s cyber security regulations, including:

• The appointment of a Cyber Incident Review Board on 1 May 2026; and

• The Australian Government’s announcement of the Horizon 2 Action Plan under the 2023-2030 Australia Cyber Security Strategy on 11 June 2026.

Privacy and AI: Tracking the increasing amendments to Australia’s privacy and AI legal regimes, including:

• The OAIC’s release of the Exposure Draft of the Children’s Online Privacy Code on 31 March 2026, which closed on 5 June 2026;

• The Australian Government’s publication of its response to the Statutory Review of the Online Safety Act 2021 on 15 April 2026, which closed on 15 June 2026;

• The National AI Centres publication of its updated Guidance for AI Adoption resources on 5 May 2026; and

• The OAIC’s commencement of consultation on guidance for transparency in automated decision-making on 18 May 2026.

  
  

FAR: Tracking proposed further amendments to the Financial Accountability Regime (FAR) since its introduction in 2024, including APRA and ASIC’s announcement on 16 June 2026 of proposed changes to streamline aspects of FAR by the end of 2026.

OTHER: And tracking a variety of other changes in regimes previously captured, particularly around the payment systems legislation amendments, including:

• The Senate Economic Committee’s release of its report on the Treasury Laws Amendment (Financial Reporting System Reform) Bill 2026 on 24 April 2026, recommending that the Bill be passed;

• APRA’s finalisation of targeted amendments to CPS 230, CPG 230 and the Material Service Provider Register template on 30 April 2026;

• The registration of the Competition and Consumer (Scams Prevention Framework—External Dispute Resolution) Authorisation 2026 on 4 June 2026;

• Registration of the Competition and Consumer (Scams Prevention Framework—Regulated Sectors) Designation 2026 on 27 May 2026

• The Senate’s release of their report on the Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025 on 19 November 2025 and their subsequent passing by both houses of parliament on 27 November 2025;

• The publication of submissions on the Payment Systems Legislation Amendment (2025 Measures No. 1) Regulations 2025 on 16 December 2025; and

• The ASX’s release of exposure draft Listing Rule and Guidance Note amendments for dilutive M&A transactions on 17 June 2026, seeking submissions by 29 July 2026.

We are continuing to track changes to each of these regulations, so please continue to check the Regulatory Tracker for further updates. Please reach out to Tim Bednall or Jack Wheatstone if you would like to discuss navigating these regulations further.

This publication is a joint publication from Mallesons, and Mallesons Compliance Pty Ltd (ACN 672 547 027) trading as Owl Advisory by Mallesons.  Mallesons Compliance Pty Ltd is a company wholly owned by the Mallesons Australian partnership.  Mallesons Compliance Pty Ltd provides non-legal compliance and governance risk advisory services for businesses.  Mallesons Compliance Pty Ltd is not an incorporated legal practice and does not provide legal services. Laws concerning the provision of legal services do not apply to Mallesons Compliance Pty Ltd.