ASIC Offer Guidance on New Complaints Handling Obligations

03/09/2021

ASIC says more work is needed from superannuation trustees to comply with new internal dispute resolution standards that become enforceable in October.

Securities / Derivatives

HKEX Identifies Compliance Deficiencies by Exchange Participants

03/09/2021

In a new bulletin, HKEX offers guidance on compliance with LOP reporting, client margin and block trade order execution requirements.

Fintech / Regtech

BIS, Four Central Banks Partner to Test Cross-Border CBDC Use

03/09/2021

The BIS Innovation Hub Singapore Centre will test CBDCs for international settlements with the RBA, MAS, BNM and SARB.

S. Korea Bans Payment Monopolies in App Stores

02/09/2021

South Korea is the first country to pass legislation forcing companies like Apple and Google to offer payment alternatives in their app stores.

Australian Industry Bodies to Standardise Advice Fee Disclosures

01/09/2021

The Financial Services Council and Financial Planning Association are developing an industry standard form to be used for advice fee disclosures.

Securities / Derivatives

Australia Issues Consultation to Finalise CCIV Regime

31/08/2021

The CCIV regime will offer a more flexible and tax-efficient corporate structure for fund managers. The regime is targeted to commence from 1 July 2022.

APRA Confirms Approach to New Credit Risk Reporting Standard

31/08/2021

APRA will proceed with implementation of the interim ARS 220.0 commencing 1 January 2022, despite feedback indicating its approach presented a burden for ADIs.

Fintech / Regtech

Australia Payments System Review Exposes Regulatory Gaps

31/08/2021

The review recommends enhancing the government’s powers to protect the payments system. A single, integrated licensing framework for payment services should also be introduced.

13 Super Funds Fail APRA’s First Performance Test

31/08/2021

If the failing super funds do not improve in next year’s test they will have to transfer their members to funds that deliver better outcomes.