Compliance: Theory and Practice in the Financial Services Industry

Glossary of Abbreviations

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Abb. Meaning
ACCC Australian Competition and Consumer Commission, the primary regulator of competition and consumer protection laws in Australia.
ACL Australian Consumer Law (schedule 2 to the CCA).
ADI Approved Deposit-taking Institution (a bank, building society or credit union that holds an authority to carry on banking business under the Banking Act).
AFMA Australian Financial Markets Association, an industry association representing participants in Australian over-the-counter wholesale financial markets.
AFSL Australian Financial Services Licence.
AML Anti-money laundering.
AML/CTF program Anti-Money Laundering/Counter-Terrorism Financing program.
AMLCTFA Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).
APRA Australian Prudential Regulatory Authority, the prudential regulator of ADIs and the insurance and superannuation industry.
AS Australian Standard published by the Australian Standards Association.
ASIC Australian Securities and Investments Commission, the primary regulator of financial institutions.
ASICA Australian Securities and Investments Commission Act 2001 (Cth).
ASICR Australian Securities and Investments Commission Regulations 2001 (Cth).
ASX Australian Securities Exchange, the main securities exchange in Australia.
ASX MIR ASIC Market Integrity Rules (ASX Market) 2010
ASX OR ASX Operating Rules
ASX 24 ASX 24 Market, the successor to the Sydney Futures Exchange, the main futures exchange in Australia.
ASX 24 MIR ASIC Market Integrity Rules (ASX 24 Market) 2010
ASX 24 OR ASX 24 Operating Rules
AUSTRAC Australian Transaction Reports and Analysis Centre, the body administering the AMLCTFA and FTRA.
BA Banking Act 1959 (Cth).
CA Corporations Act 2001 (Cth).
CCA Competition and Consumer Act 2010 (Cth).
CCC (Commonwealth) Criminal Code 1995 (Cth).
Competition MIR ASIC Market Integrity Rules (Competition in Exchange Markets) 2011
CTF Counter-terrorism financing.
CR Corporations Regulations 2001 (Cth).
DP Deposit product.
DTR Designated Trading Representative (a person who may enter orders into the ASX SEATS and/or DTP systems).
FATA Foreign Acquisitions and Takeovers Act 1975 (Cth).
FIRB Foreign Investment Review Board, the body administering the FATA.
FPA Financial Planning Association, the peak industry association for financial planners.
FS(CD)A Financial Sector (Collection of Data) Act 2001 (Cth).
FSG Financial Services Guide.
FSR Financial Services Reforms, the reforms to the Corporations Act enacted in the FSRA.
FSRA Financial Services Reform Act 2001 (Cth).
FTRA Financial Transaction Reports Act 1988 (Cth).
GN Guidance Note.
IA Insurance Act 1973 (Cth).
ICA Insurance Contracts Act 1984 (Cth).
IFSA Financial Services Council, formerly known as the Investment and Financial Services Association, the peak industry association for the retail and wholesale funds management and life insurance industry in Australia.
KYC Know your client.
LIA Life Insurance Act 1995 (Cth).
MIR Market Integrity Rule.
ML Money laundering.
NASD National Association of Securities Dealers, an industry association in the US of broker/dealers in the over-the-counter securities business. The NASD is a self-regulatory body and administers the NASDAQ stock market.
NCC National Credit Code (a schedule to the NCCPA).
NCCPA National Consumer Credit Protection Act 2009 (Cth).
NCCPR National Consumer Credit Protection Regulations 2009 (Cth).
NCPF Non-Cash Payment Facility.
NPP National Privacy Principle.
NYSE New York Stock Exchange.
OR ASX/ASX 24 Operating Rule.
OTC Over the counter (ie not traded on a public exchange).
PA Privacy Act 1988 (Cth).
PDS Product Disclosure Statement.
POCA Proceeds of Crime Act 2002 (Cth).
r Regulation or rule.
rr Regulations or rules.
RFC Registered Finance Corporation (corporations registered under the FS(CD)A).
RG ASIC Regulatory Guide.
RSAA Retirement Savings Account Act 1997.
s Section (of an Act).
ss Sections (of an Act).
SCT Superannuation Complaints Tribunal.
SDA Surveillance Devices Act 2007 (NSW).
SDIA Securities and Derivatives Industry Association, the peak industry body representing the stockbroking industry in Australia.
SISA Superannuation Industry (Supervision) Act 1993 (Cth).
SISR Superannuation Industry (Supervision) Regulations 1993 (Cth).
SOA Statement of Advice.
TF Terrorism financing.
TIAA Telecommunications (Interception and Access) Act 1979 (Cth).
UN Charter Act Charter of the United Nations Act 1945 (Cth).


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