Resolution & Recovery

EU to Cooperate with Australia & NZ on Bank Resolution Planning

28/03/2023

The cooperation arrangements focus on bank resolution planning and its implementation for banks with cross-border operations.

Structural Regulation

SFC Consults on Subsidiary Legislation for Paperless Securities

27/03/2023

The subsidiary legislation covers operational and technical matters and the introduction of a more robust regulatory regime for securities registrars.

Cybersecurity

Australia Hit by New String of Cyber Attacks

27/03/2023

NGS Super, Crown Resorts and Latitude Financial Services have all disclosed this week that they were subject to cyber attacks.

Climate Risk

Bank Exposures to Flood Risk Likely Compounded by Other Risks: RBNZ

27/03/2023

Bank capital ratios are resilient when each flood event is considered in isolation, but flood risk could potentially compound with other risks.

Structural Regulation

SFC Waives Annual Licensing Fees for 2023/24 Financial Year

27/03/2023

The annual licensing fees were first waived for the 2020/21 financial year for a one year period, but it has since been extended each year.

PEPs & Sanctions

OFAC Adds More Belarus Officials to Sanctions List

27/03/2023

The sanctions target Alexander Lukashenko’s presidential aircraft, two major automotive manufacturers, and election officials.

PEPs & Sanctions

New US Sanctions Target Myanmar Jet Fuel Supplies

27/03/2023

OFAC published an alert explaining the sanctions risks associated with providing jet fuel to Myanmar’s military regime.

Clearing & Post-Trade

SWIFT Pilots Blockchain Solution to Tackle Corporate Actions Frictions

27/03/2023

The solution demonstrated the potential to reduce manual effort and errors in corporate action processing and deliver operational efficiencies.

KYC & CDD

AUSTRAC Issues Guidance on Employee Due Diligence

27/03/2023

Guidance is provided on screening and re-screening employees and contractors for money laundering and terrorism financing risks.