Australia & NZ
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New Zealand Raises the Bar for Bank Outsourcing
Largest banks will be required to have measures in place to survive the failure of a key service provider, according to new...
September 21, 2017 -
AUSTRAC to Lead Efforts to Combat IS Funding in Southeast Asia
Australia hopes to cooperate with other jurisdictions in SE Asia amid concern IS will turn its attention to the region after Middle...
September 18, 2017 -
APRA Delays Economic and Financial Statistics Reform
Banks should still devote time to correctly budget, resource and plan technology projects for EFS based on the new timelines.
September 13, 2017 -
ASIC Eyes Accountability for Algorithmic System Operators
Regulator’s chairman says each algorithmic system must have designated individual responsible for design and outcomes, echoing new bank accountability regime.
September 11, 2017 -
301Singapore, Australia and ‘Fundamental Regulatory Overhaul’
Requirements on balance sheet reporting a stiff challenge for banks despite regulators' nods to technology’s potential, says Axiom SL.
August 31, 2017 -
Australian Regulator Launches CBA Inquiry
APRA inquiry to look at whether governance, culture and accountability frameworks conflict with ‘sound risk management and compliance outcomes’.
August 29, 2017 -
Lawyers Seek to Sue Bank for Share Price Drop after AML Revelations
Firms claim share price would not have suffered as precipitous a decline if claims of money laundering had been revealed earlier.
August 24, 2017 -
ISDA Urges EU Not to Force Local Clearing Post Brexit
Trade organisation says move to local CCPs could push up initial margin costs by 20% or more; cites Australian equivalency model.
August 23, 2017 -
Australia Signals Currency Status, AML Clampdown for Bitcoin
Cryptocurrency to be brought under AUSTRAC; proposal to follow Japan in giving bitcoin legal tender status being considered by central bank.
August 21, 2017 -
Australia Eyes Provisional Market Access for Aspiring Banks
Restricted ADI licensees would need only $2.35mn in capital to take deposits; APRA paper does not address budget proposal to remove ‘bank’...
August 16, 2017