Structural Regulation

ASIC Extends Licensing Relief for Foreign FIs to March 2025

02/08/2024

The relief is extended ahead of a new licensing exemption regime for FFSPs due to commence in Australia on 1 April 2025.

Structural Regulation

Hong Kong IA to Start Charging Fees from September

02/08/2024

The Insurance Authority has not charged licensing and related fees since it assumed supervisory responsibilities in 2019.

Data Privacy

HKMA Sets Expectations for CRA’s Exit from ‘Credit Data Smart’

01/08/2024

Credit reference agency Nova Credit Limited has decided to cease operations and exit the new credit reference platform known as Credit Data Smart.

Fraud, Scams & Cybercrime

ACCC to Create 2nd NASC Fusion Cell to Target Job Scams

01/08/2024

The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.

Conduct, Culture & Accountability

Australia’s New Code for Tax Practitioners Takes Effect

01/08/2024

Tax practitioners will have until January or July 2025 to come into compliance, depending on their firm size.

Credit Risk

ASIC Calls on Credit Card Lenders to Improve Consumer Outcomes

01/08/2024

ASIC said some credit card providers are failing to identify consumers at risk of financial hardship and communicate what help may be available.

Payments & Settlements

BSP Amends Guidelines for Payments Settlement Systems

01/08/2024

The BSP said the revised guidelines provide operational flexibility to ACHs under the NRPS framework namely InstaPay and PESONet.

Credit Risk

RBNZ Explores New Techniques for Monitoring Financial Stability

01/08/2024

The RBNZ is exploring the use of news sentiment as an indicator of financial stress, and macroeconomic conditions to forecast future NPLs.

Clearing & Post-Trade

ASIC Proposes Rules for ASX Clearing and Settlement Services

31/07/2024

ASIC is consulting on new rules to facilitate more competitive outcomes in cash equity clearing and settlement services provided by ASX.