On 10 February 2026, the Treasury released the ‘Enhancing oversight and governance of managed investment schemes’ consultation paper. The Consultation Paper proposes to strengthen retail consumer protections and improve stability and confidence in the superannuation and financial services sectors, predominantly through strengthening governance and capital holding requirements for registered MISs.
The Consultation Paper also considers measures such as waiting periods for superannuation switches and constraints on inappropriate advice related fees.
Ultimately, the measures proposed in the Consultation Paper aim to prevent harm to retail consumers stemming from poor governance practices, whilst maintaining investor confidence in the Australian financial system.

In brief This marks an important, substantial step towards a new harmonized and more restrictive regime for branches of non-EU/EEA firms, e.g., from the US, UK and Asia, which provide “core banking services” of deposit-taking, lending, and providing guarantees and commitments to German clients, so-called third-country branches (“TCB”) under Art.…

Vietnam’s draft AI Law, released for public consultation, aims to establish a comprehensive governance framework by January 2026. It introduces phased implementation, risk-based classification, role-driven accountability, and obligations for general-purpose AI. The law promotes innovation through incentives and sandboxes, and enforces strict penalties for violations, including revenue-based fines. Businesses in high-risk sectors like finance and health will face increased scrutiny. Stakeholders are urged to submit feedback before the National Assembly’s session on 20 October 2025.

Colombia has adopted ISO/IEC 42001:2023, becoming the first country in Latin America to implement a certifiable international standard for AI systems. This standard promotes responsible AI governance, transparency, and risk management. It aligns with Colombia’s national AI strategy and offers competitive advantages for organizations, including global recognition and regulatory compliance. The standard covers AI-specific risk assessment, operational controls, and integration with other ISO standards.

Following the passing of the Personal Data Protection (Amendment) Bill 2024 by the Malaysian Parliament in July 2024, three public consultation papers have been issued in relation to the implementation of the following impending new legal obligations:

• Notifying the Personal Data Protection Commissioner and affected data subjects for personal data breach.
• Appointing data protection officer(s).
• Effecting the data subject’s right to data portability.

The deadline to provide feedback is 6 September 2024 (Friday).