Australia & NZ

The RBNZ will implement changes designed to rationalise the structure of the assurance reports and improve their readability.

The latest ACCC data shows that payment redirection scams caused the highest losses to businesses in 2021.

Treasury says it has received a high number of enquiries from reporting entities and their advisers regarding administration of the Payment Times Reporting Scheme.

APRA is seeking written submissions by 26 August 2022 on consequential amendments relating to the treatment of exposures to New Zealand and the NSFR requirement.

Quarterly publications will start in September and annual publications in early 2023, comprising new and expanded data on an industry, fund and product basis.

The CDR sandbox will reduce the time and cost firms spend trying to become active CDR participants and updating their CDR offerings.

ANZ will need approval from the ACCC, the Federal Treasurer and Queensland officials. The Finance Sector Union is calling for the deal for be rejected.

New report sets out indicators and good practices to help market participants detect, prevent, and respond to pump and dump activity.

Banks, insurers and non-bank deposit takers will need a ‘financial institution licence’ issued by the FMA starting in early 2025.

ACCC chair Gina Cass-Gottlieb says banks have a responsibility to protect customers from investing in scam cryptocurrency schemes.