Conduct, Culture & Accountability

ASIC Issues Guidance for Unlicensed Entities Soliciting Advice

16/05/2024

The guidance warns of penalties for unlicensed entities that make unsolicited contact with consumers and refer them to third parties for financial advice.

Capital Adequacy

RBNZ Proposes “Core Standards” for New DTA Regime

16/05/2024

The proposed core standards cover capital, liquidity, disclosure, and DCS-related requirements.

Climate Risk

ASIC Outlines Focus Areas for Financial Reporting, Auditing

16/05/2024

ASIC’s priorities include certain ‘enduring focus areas’ along with climate reporting and compliance with ethical and independence standards.

PEPs & Sanctions

NZ Updates AML Guidance on Russia Sanctions

14/05/2024

AML/CFT reporting entities that are duty holders under the Russia Sanctions Act must notify customers of asset freezes or blocked transactions.

Trading & Investment

ASIC Probes ANZ Over Treasury Bond Issuance

14/05/2024

ASIC suspects ANZ breached the law while serving as a risk manager for a government bond issuance last year.

Clearing & Post-Trade

Regulators Announce Enhancements to Swap Connect

14/05/2024

The enhancements will enrich the tradeable products, improve ancillary services, and reduce investor participation costs.

Anti-Money Laundering

New Zealand DIA Issues Formal AML Warning to Lawyer

13/05/2024

The lawyer failed to establish, implement and maintain an AML/CFT programme, conduct on-going CDD, and report transactions.

AI Risk & Governance

Australia FSC Forms Expert Group on ‘Digital Advice’

13/05/2024

The expert group will support financial advice reforms and the development and growth of the digital advice sector.

Conduct, Culture & Accountability

AFCA, CSLR Set Out Arrangements for “Collaborative Relationship”

10/05/2024

AFCA signed an MoU with CSLR Ltd, the authorised operator of the new Compensation Scheme of Last Resort.