Australia & NZ

Accenture to provide an independent review of the new CHESS application and help ASX determine a new launch schedule.

The extension has likely been announced to allow the new government time to consider legislative reforms for foreign financial services providers.

Australia may see a shift away from BBSW to AONIA for products like cross-currency swaps and multi-currency lending facilities, says CBA's Pieter Bierkens.

APRA proposes to update its prudential standard governing strategic planning and member outcomes in superannuation, just 2.5 years after it took effect.

Three firms are required to temporarily stop offering their products to consumers due to deficiencies in their target market determinations.

The XRB intends to finalise the standards in December 2022. New Zealand's first climate statements will be published in April 2024.

The proposed amendments will enable reporting entities to submit IFTIs using the ISO 20022 message format.

APRA proposes to introduce a new cross-industry prudential standard on operational risk management, which also covers third-party service providers.

The bill will enshrine into law a commitment to reduce emissions 43 percent by 2030, based on 2005 levels, and to reach net zero by 2050.

Fund managers need to provide accurate and high-quality information to explain and support claims that their products incorporate non-financial factors.