Capital / Liquidity

FSB Adds Toronto Dominion to G-SIBs List

23/11/2019

The addition of Toronto Dominion to the list brings the overall number of G-SIBs from 29 to 30. Deutsche Bank was moved to a lower bucket within the list.

Market Infrastructure

ACCC Authorises ABA Changes to Banking Code of Practice

23/11/2019

The ACCC’s authorisation was needed because changes to the Code to reflect the royal commission recommendations required competing banks to reach an agreement through the ABA.

Securities / Derivatives

SEBI Requires Listed Companies to Disclose Defaults Within 24 Hours

22/11/2019

Effective from 1 January, once a listed company falls 30 days behind on loan repayment it will have 24 hours to disclose the default, even before it is classified as an NPA by the lender.

Enforcement

ANZ, Westpac Face Class Actions Just Days After NAB Settlement

22/11/2019

Law firm Slater and Gordon has launched class actions against ANZ and Westpac over the sale of consumer credit insurance products, on the heels of winning a near A$50m settlement from NAB.

Market Infrastructure

Japan FSA Reviews Proposal to Reorganise Tokyo Bourse

22/11/2019

The proposal would recast the TSE’s existing boards into a “prime” market for blue chips, a “standard” market for mid-tier companies and a “growth” board for startups.

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.