Australia & NZ

Regulators considering a tiered approach, whereby facilities providers with larger amounts of stored value would be subjected to higher regulatory requirements.

Institutions take over 4 years to identify breaches, over 2 months to start an investigation into identified breaches, and 2.5 months to lodge breach reports with ASIC.

Information paper acknowledges improvements in the ability of regulated entities to manage cloud computing risks, while also detailing observed weaknesses and areas of concern.

The ASX Group has undertaken an extensive work programme aimed at improving technology governance and operational risk management.

ANZ failed to disclose in its 2015 capital raising that underwriters Citi and Deutsche took up one-third of its share placement.

The solution ensures data integrity and quality before delivery to CME Group or DTCC Asia licensed trade repositories.

Consumer data rights framework to be initially applied under the open banking regime, with the big four banks set to make data available by 1 July 2019.

The exchanges will explore opportunities to promote dual listings, depository receipts, ETFs and broader market development initiatives.

A series of class actions for millions of super fund customers could cost Australian financial institutions up to A$1bn.

ASIC Commissioner John Price laid out the regulator’s priorities regarding conduct and culture risk in the financial industry in the coming year.