Securities / Derivatives

Australia Passes Amendments to Continuous Disclosure Laws

12/08/2021

Companies can provide forward-looking guidance to the market without the fear of class actions if forecasts are found to be inaccurate.

FMA Proposes Financial Reporting Exemptions for Insolvent Firms

11/08/2021

New Zealand’s FMA is considering introducing a class exemption for insolvent FMC reporting entities from certain financial reporting obligations.

Market Infrastructure

New Zealand Parliament Passes Reserve Bank Bill

11/08/2021

The bill will strengthen the RBNZ’s decision-making, governance, independence and accountability, and change its funding model.

Capital / Liquidity

APRA Finalises Revised Approach to Licensing New Banks

11/08/2021

The new approach increases clarity around capital requirements at different stages for new entrants to the banking sector.

AML / KYC

DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021

11/08/2021

In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.

Securities / Derivatives

SEBI Eases Lock-in Period for Promoters, Pre-IPO Investors

11/08/2021

The lock-in period for promoters will be eased from 36 to 18 months. For pre-IPO investors, the lock-in will be reduced from 12 to 6 months.

NAB Enters Agreement to Acquire Citigroup Consumer Business

10/08/2021

Subject to regulatory approvals from the Treasury, APRA and the ACCC, the acquisition is expected to be complete by March 2022.

AML / KYC

BSP to Finalise Members of Open Finance Body This Year

10/08/2021

The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.

Enforcement

Taiwan FSC to Raise Compensation for Automatic Dispute Settlement

10/08/2021

The FSC will raise the compensation ceilings under which financial companies have to automatically accept settlement decisions.