The proposals raise internal dispute resolution standards at financial firms, and introduce mandatory data reporting to help make complaints handling performance more transparent.
The warnings relate to failures by the firms to comply with requirements to have their risk assessments and AML/CFT programmes audited every two years.
New Zealand's Financial Markets Authority and the NZX are seeking public input on a 10 year plan to develop the nation’s capital markets.
A green political party in Australia has announced a new policy that will make carbon risk reporting mandatory for banks, insurers, super funds and the largest listed companies in 2021.
Firms should be aware of the size and nature of their LIBOR exposures, put in place robust fall-back provisions in LIBOR contracts, and be taking action to transition to alternative rates.
"Ultimately there will only be one form of finance, and that will be green finance," said APRA head of insurance Geoff Summerhayes at the ACSI annual conference.
ASX has made available the first of seven ‘drops’ of software code, with additional functionality set to be released at eight-week intervals.
Australia may emerge as a world-leader in RegTech adoption as a remedy to banking culture and misconduct issues, say Jeff Kupfer and Stephen Scott at Starling Trust.
Open banking, digital banking, cloud-based infrastructure and RegTech are the key drivers of technology-led change in the Australian banking sector, according to S&P Global Ratings.
The Australian Taxation Office is collecting data from cryptocurrency exchanges to feed into its data-matching technology to identify tax evaders.