Aussie Banks Adopt Safeguards Against Unfair Debt Collection Practices

21/11/2019

The move comes after hundreds of vulnerable debtors who have had their homes put at risk in bankruptcy court this year over relatively small debts.

Enforcement

CBA’s CommInsure Faces A$1.85mn Penalty for Unsolicited Sales Calls

21/11/2019

The penalty will be in addition to the A$12mn CommInsure has said it will pay to 30,000 policyholders to remediate telephone sales conduct issues.

Enforcement

Ex-ICBC Shanghai Boss Expelled from Party, Public Posts

21/11/2019

Gu Guoming was reportedly found to have been involved in ‘serious corruption’, taking “an extremely large amount” of bribes and using his position to seek benefits for friends and relatives.

Capital / Liquidity

APRA Consults on Revised Leverage Ratio Requirements

21/11/2019

APRA intends to adopt BCBS revisions to the leverage ratio standard and disclosure requirements, and allow IRB ADIs to adopt modified SA-CCR early for public disclosure.

Market Infrastructure

CEINEX Prepares to Launch Shanghai-Deutsche Stock Connect

21/11/2019

Under the plan, German companies will issue CDRs on the SSE, and Chinese companies will issue GDRs on the Frankfurt Stock Exchange.

Enforcement

Former NAB Branch Manager Sentenced for Home Loan Referral Fraud

21/11/2019

Mathew Alwan was permanently banned by ASIC last year and pleaded guilty to ‘intention to defraud’ earlier this year for making false or misleading statements to NAB.

Market Infrastructure

EP Association Adopts 4th Iteration of ‘Equator Principles’

21/11/2019

DBS becomes the newest of 101 financial institutions to adopt the ‘Equator Principles’, a globally recognised framework for determining, assessing and managing environment and social risk in project finance.

Capital / Liquidity

India to Increase Deposit Insurance Limit – Reports

20/11/2019

India’s finance ministry plans to increase the deposit guarantee limit to protect consumers against bank failures.

Securities / Derivatives

APRA ‘Heatmaps’ to Expose Underperforming Super Funds

20/11/2019

The heatmap is designed to emphasise underperformance, not to be used as a peer ranking mechanism or give a pat on the back to better-performing superannuation products.