Australia & NZ

The Bill provides the RBNZ and FMA with comprehensive regulatory, supervisory, enforcement, and crisis management powers in respect of important FMIs.

Small business ombudsman Bruce Billson is seeking powers to compel banks to "show cause” for decisions to refuse services to companies.

Under draft rules, accredited businesses would be able to share CDR data with their agents, or sponsor other parties to become accredited.

ASIC says Westpac traded interest rate derivatives to pre-position itself while knowing it would be selected to execute a A$12bn interest rate swap hours later.

Australian Military Bank is required to conduct a risk assessment, and then work to improve its KYC, transaction monitoring, EDD, and reporting systems.

NPP participating FIs can receive payment messages formatted with additional defined data elements for payroll, tax, superannuation and e-invoicing.

The RBNZ may further tighten mortgage lending to guard against financial stability risks through adjustments to LVR restrictions.

The Treasury is proposing that proxy advisers be required to obtain an AFS License, among other requirements aimed at increasing transparency.

All S&P/NZX 50 companies are covered in the new indices. Constituent weights will be adjusted based on carbon intensity and emissions performance.

Industry bodies broadly support the inclusion of administrative fees in the performance test, though an extra one million super accounts could fail the test as a result.