Global perspective – Global Blockchain Business Council
In Focus – Kate Dent (admin@acsa.com.au)
Welcome to 2023!
Welcome to 2023 and the first ACSA Industry Wrap of the year.
As the holiday season comes to an end we have rapidly jumped into the new year and the ACSA priorities. Recent years have seen us evolve the way we interact and collaborate in the industry and a hybrid regime is now entrenched in the way we work. There is no doubt that as an industry ACSA continues to engage with members in new and different ways and 2023 will be no different. We are excited about the opportunities for us to come together in person at more members events during the year.
The hot topics of 2023 are expected to include the continued evolution of institutional utilisation of crypto and digital assets, the regulators desire for data, ASX CHESS replacement and ongoing regulatory and tax change. And we are excited about engaging new talent into the industry through our Next Generation Leadership initiative.
No doubt there will also be issues for the industry to discuss that are unexpected, there always is! And ACSA is well placed to address the opportunities and challenges in the coming year through a combination our working groups and taskforces.
The ACSA executive board is meeting in February to evaluate our mission and strategy given the 2023 emerging industry trends, opportunities, and potential challenges. Thank you for those that have completed the industry survey which will provide valuable input into our planning for the year ahead. We will update you in the February Industry Wrap on the outcomes of the executive board discussions.
The ACSA Though Leadership Series will continue to deliver relevant insights to members on local, global and industry subject matter and initiatives. Keep an eye out for the new webinar series to commence in early March.
Best wishes for 2023.
ACSA Members Event
The first ACSA members event for 2023 is to take place on the 7th March 2023 from 4:45pm at the offices of JP Morgan in both Sydney and Melbourne concurrently, connected by a video-link.
At this event we will be showcasing: • The 2022 ACSA Award winners • The ACSA 2023 key priorities • Member networking to kick start the year.
More details will be circulated separately for you to sign up and register for this member only event.
Reminder - ACSA Awards
Nominations are now open for ACSA Awards 2023
The ACSA Awards recognise outstanding individual contribution to the Association, wider industry and key stakeholders. For over 10 years these coveted Awards have showcased outstanding individuals and the value they bring to industry collaboration and focus on positive change.
Eligibility
Any person who makes a significant contribution to the industry and Association is eligible.
Nomination Process
Nominations should be made by completing the form Nomination Form and return no later than 6 February 2023 via email to:
Kate Dent ACSA Executive admin@acsa.com.au
Nominations must include details of the individual’s specific contribution (see instructions regarding the citation). Full details of the process and the Roll of Honour of past recipients can be viewed at 2022 Process.
Award Presentation
Recipients will be notified by early February, and the Awards will be presented at ACSA’s Members Event on 7 March 2023.
AUSTRAC 2022 compliance report is now open – it’s time to get started
The AUSTRAC compliance report is an annual report that helps AUSTRAC understand how business is meeting its AML/CTF obligations, and what support and guidance may be needed in our industry.
The report includes questions about how businesses have complied with their obligations during the 2022 calendar year. The report must be submitted by 31 March 2023. AUSTRAC can take enforcement action if a business fails to submit a compliance report by the due date, so get started today to submit your report on time.
Check enrolment details - Keeping enrolment details up-to-date is part of the obligations under AML/CTF law. Failing to update enrolment details can lead to separate penalties. Check that business details are up to date before getting started, including contact details and designated services. Make sure an administrator in AUSTRAC Online can submit the compliance report.
How to submit a compliance report - A report is submitted using an AUSTRAC Online account. Check business details are up to date before getting started, including contact details and designated services. To submit a report, administrator access is required in AUSTRAC Online.
Find out more information about the AUSTRAC compliance report, including a short video animation and instructions on how to submit.
Is support needed to submit a report? - Most businesses regulated by AUSTRAC need to complete a compliance report, however there are some exemptions. Businesses don’t need to submit a compliance report if it business is one of the following:
A gaming venue with a licence for 15 electronic gaming machines or less and it doesn’t provide any other designated services.
An affiliate of a remittance network provider and it doesn’t provide any other designated services.
An Australian Financial Services Licence (AFSL) holder where it arranges designated services for customers rather than providing designated services itself.
If you can’t find the information you need about the compliance report, please email contact@austrac.gov.au. If you need an urgent response call the AUSTRAC Contact centre on 1300 021 037.
Global Perspective – Global Blockchain Business Council
ACSA has had a focus on the evolution of crypto and digital assets, with a specific taskforce created to monitor regulatory settings and the impacts of new technologies on custody and investment services.
For those that are interested in understanding some of the macro global trends and applications for blockchain in financial services the Global Blockchain Business Council (GBBC) seeks to connect and collaborate across industries, including financial services.
GBBC is the largest industry association for the blockchain technology and digital assets community. Launched in Davos in 2017, GBBC is a Swiss-based non-profit, with more than 500 institutional members, and 231 Ambassadors across 109 jurisdictions and disciplines. The organisation is dedicated to furthering adoption of blockchain technology by convening regulators, business leaders, and global changemakers to foster collaboration and advance dialogue to create more secure, equitable, and functional societies.
GBBC recently issued its 2022 annual report which includes details on their focus and priorities but also interesting insights into the way global industries are evaluating and implementing blockchain solutions to exude simplicity and trust. You can read more and access the GBBC Annual Report – Stronger Together: Rebuilding after the maelstrom of markets here.
In Focus – Kate Dent
Kate is the driver behind all of ACSA’s admin and website updates and changes – including this newsletter distribution.
Kate has been working with ACSA for almost 5 years. She runs her own virtual business as an EA/VA and Online Business Manager (OBM) to a select few clients. The business provides services such as general admin, website maintenance, marketing and automation of systems and processes.
Kate also worked in custody for just over 10 years prior to starting her business.
Fun facts: Kate has a Degree in Industrial Design and her remote pilot licence (drone).
Rapid fire five Coffee or Tea?Coffee Tik Tock, Instagram or Facebook? Instagram Pop, Rock or Rap?Pop and Alternative/Indie Cocktail or Wine?Mocktail – or a non-alcoholic beer Summer or Winter?Hmmmm I love both. Take me to a tropical island any day, but my dream destination is Antarctica!
Can you briefly describe your role with ACSA? I am the person behind the admin@ email. I respond to queries, manage the requests for statistics, memberships and awards. I also manage the website back end; making changes, sending out the EDM’s and uploading docs and data as needed. I also assist the CEO and the board members with meetings as needed and am the tech support behind webinars.
What is the most satisfying part of your role? With ACSA, it is probably the website! It’s not built on a common platform so it constantly teaches me and pushes my learnings which is great.
How do you motivate yourself? With coffee! I manage my time in blocks and have a task management system (ClickUp). This actually motivates me as I get satisfaction from ticking tasks off and knowing I’ve done something to help someone and their business.
What are some of the exciting places your career has taken you? I got to go to Borneo as an environmental research assistant which was a once in a lifetime opportunity. Since then, working for myself gives me and my family the freedom and flexibility to travel when we want and to work on the road.
I would say the flexibility of being able to do this only limits your imagination on the destination! As long as there is internet, my career can take me anywhere.
What advice would you give your 21-year-old self? Life is short – look forward, not back - and trust your gut. Where you are now is not necessarily where you will end up, and you have to take opportunity when it presents itself. Oh, and travel as much as you can!
2023 is shaping up as an exciting time for ACSA and its members and I look forward to working with you as we define and execute on the association’s strategy and plans. Also, watch out for some exciting Members Events and Thought Leadership Webinars in coming weeks.
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