Australia & NZ

APRA proposes that ADI data related to capital adequacy, liquidity, asset quality, financial statements, and financial performance be determined non-confidential.

Lenders will no longer have to assess borrowers' earnings and expenses to determine whether they can afford to repay their debt without hardship.

The consultation on the 2nd tranche of rule changes covered operating rules relating to corporate actions, mFund and RTGS payment aspects for the new system.

AUSTRAC proposed in July to allow brokers to open accounts for new clients with flexibility to complete the customer identification procedure within five days.

There are no excuses for conduct that presents the risk of harm to investors, customers and the integrity of the markets, says FMA chief Rob Everett.

If the Federal Court of Australia determines the penalty is appropriate, it will represent the largest ever civil penalty in Australian history.

The licence conditions will remain in place until CLSA Premium NZ lodges its audit and assurance reports for 2019.

ASIC's report, in alignment with a report from IOSCO, offers better practices to manage conflicts of interest and conduct risks in debt capital market transactions.

The final penalty amount, which could reach as high as A$1.5bn, is expected to be announced at a joint press conference in coming days.

Banks should immediately inform APRA and ASIC if they experience issues collecting on loans with repayment deferrals.