Super Funds Have More Work to Do on Valuation Governance: APRA

21/06/2024

APRA wrote to super fund trustees asking them to improve their valuation governance practices for unlisted assets, as required by SPS 530.

Capital / Liquidity

EU Confirms Decision to Postpone FRTB Implementation

20/06/2024

Commissioner Mairead McGuinness said postponing FRTB ensures a global level playing field for European banks that compete with global players.

New Zealand Working to Improve KiwiSaver Scheme

20/06/2024

Recommendations for improving KiwiSaver include the introduction of a “default” contribution rate that is higher than the minimum.

Australia to Improve Outcomes for Home Loan Borrowers

20/06/2024

Reforms will make it easier to switch to better mortgage deals. A new review was launched to find ways to support additional competition in the banking sector.

Securities / Derivatives

PBOC to Start Participating in Treasury Bond Market ‘Gradually’

20/06/2024

Pan Gongsheng said including government bond trading in the PBOC’s monetary policy toolbox is needed to address risks similar to those that caused SVB’s collapse.

Market Infrastructure

CSRC Unveils New Measures to Enhance Shanghai STAR Market

20/06/2024

The CSRC will explore the introduction of STAR 50 index futures and options, establish “green channels” for M&A, and optimise market-maker and trading mechanisms, among other measures.

AML / KYC

BOT Unveils New Measures to Combat Money Mule Activity

20/06/2024

Banks will be able to immediately suspend electronic channels for individuals red-flagged in the Central Fraud Registry for owning a mule account.

AML / KYC

National Risk Assessment Reinforces Need for AML Reforms: AUSTRAC CEO

20/06/2024

AUSTRAC CEO Brendan Thomas said the need to respond to the vulnerabilities posed by professional services firms is now “more critical than ever”.

Sanctions

Canada Designates Iran’s IRGC as Terrorist Organisation

20/06/2024

The designation means Canadian FIs are required to immediately freeze the property of the IRGC, and it is a criminal offence for Canadians to support the group.