Capital / Liquidity

RBNZ Proposes “Core Standards” for New DTA Regime

16/05/2024

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

ESG / Sustainability

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.

AML / KYC

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.

Enforcement

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.

Market Infrastructure

Regulators Announce Enhancements to Swap Connect

14/05/2024

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

AML / KYC

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.

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.

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.

Advice Fee Deducted from Super Funds are Too High: ASIC

09/05/2024

ASIC says trustees need to improve their oversight of advice fee deductions from super fund accounts.