Australia & NZ
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30Asia to Miss Key 2018, 2019 Basel III Deadlines – BIS report
Garima Chitkara, Regulation Asia April 26, 2018Most Asian jurisdictions are behind on implementing counterparty credit risk measures, capital for CCP exposures as well as TLAC, IRRBB and LEX...
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11ASIC Consults on Industry Funding Levy Amendments
JP Reimann, Regulation Asia April 26, 2018Australia released new draft regulations to make technical amendments to the levies in the industry funding framework; consultation closes on 14 May...
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37Australia Toughens Criminal, Civil Penalties for Misconduct
Manesh Samtani, Regulation Asia April 23, 2018Criminal offences can result in 10 years imprisonment or $725,000 for individuals; or the larger of $7.25 million, 3 times the benefits,...
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26‘Significant’ Governance Progress from Australian Banks – McPhee Report
Manesh Samtani, Regulation Asia April 20, 2018Key initiatives introduced at banks include customer advocacy programmes, whistleblower protection policies and conduct background checks to stamp out staff with poor...
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27ASIC Seeks Powers to Hasten Bank Remediation
Manesh Samtani, Regulation Asia April 20, 2018Australian banks take on average over 4 years to identify misconduct, over 4 months to report it, over 7 months post-investigation to...
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28
Australia Consults on Enforcement Powers for Client Money Rules
Editors, Regulation Asia April 20, 2018Draft law provides ASIC with wider range of tools to enforce better protections for client money held for OTC derivatives.
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30Australia Royal Commission Finds AMP Repeatedly Deceived Regulator
Manesh Samtani, Regulation Asia April 19, 2018Wealth manager AMP covered up for years a policy of charging customers fees for advice they never received; sought to influence “independent”...
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44APRA’s Economic and Financial Statistics Reform: A User’s Guide to Readiness
Douglas Cheung, Wolters Kluwer April 19, 2018APRA may have delayed planned reforms to the Economic and Financial Statistics reported by banks, but banks can’t afford to be complacent,...
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35Financial System Resilient but Concerns Remain – RBA
JP Reimann, Regulation Asia April 17, 2018Australia’s Financial Stability Review says risks easing, financial system resilient; but dangers remain on household debt, weak risk control and poor culture...
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37Australia to Review Lack of Competition in Banking Sector
Editors, Regulation Asia April 16, 2018The ACCC will examine a potential oligopolistic structure in Australia’s banking sector and review competitive practices that have allegedly led to higher...
