Big Picture

IMF Warns Against Complacency Amid Geopolitical Uncertainty

26/10/2024

Market complacency could lead to an underestimation of risks and increase the chance of sudden surges in volatility and sudden shocks.

Capital / Liquidity

New York Fed Says Banks are Obscuring Risks of CRE Loans

26/10/2024

New paper says banks are using “extend-and-pretend” tactics as a way to avoid recognising distressed loans in the commercial real estate market.

Capital / Liquidity

APRA Amends Operational Risk Financial Requirement for Super Funds

25/10/2024

The amendments to the operational risk financial requirement (ORFR) under SPS 114 will take effect from 1 July 2025, to align with CPS 230.

Capital / Liquidity

BCBS Chair Warns Against Watering Down Basel III Rules

25/10/2024

A fragmented bank regulatory world could trigger “a race to the bottom” across jurisdictions and result in a “frail regulatory framework”, said Erik Thedeen.

Enforcement

ASIC Sues Australia’s Largest Insurer for Overcharging Premiums

25/10/2024

QBE Insurance promised certain discounts on premiums that were not properly applied, leading to higher-than-expected premiums for many policyholders.

Fintech / Regtech

Australia Issues Framework for Addressing Real-world Impacts of AI

24/10/2024

The AI Impact Navigator aims to assist businesses in measuring, managing, and reporting the real-world impacts of their AI systems.

Fintech / Regtech

Australia Launches Cyber Resilience Service for Small Businesses

24/10/2024

The service, operated by IDCARE, will offer one‑on‑one assistance to help small businesses navigate cyber challenges and bolster their cyber resilience.

Enforcement

APRA to Intensify Scrutiny of Super Fund Expenditures

24/10/2024

RSE licensees will have to demonstrate how they determine that expenditures are in members’ best interests and how they are related to enhancing performance.

AML / KYC

Australian Super Fund Body Launches Financial Crime Protection Initiative

29/09/2024

The ASFA initiative aims to enhance collaboration between super funds and service providers to combat cybercrime and fraud.