RBA hands over responsibility for autonomous financial sanctions

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The Reserve Bank of Australia (RBA) today (March 7) handed over regulatory responsibility for Australia's autonomous financial sanctions framework to the Department of Foreign Affairs and Trade (DFAT).

Following the introduction by the Australian government of the Autonomous Sanctions Regulations 2011, part of the Autonomous Sanctions Act 2011, a new autonomous sanctions framework was enacted in Australia. The legislation also gave the DFAT sole responsibility for the implementation and

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