Australia & NZ
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Australia, Singapore Agree on Access to OTC Derivatives Data
Editors, Regulation Asia September 18, 2014The Australian Securities and Investments Commission and the Monetary Authority of Singapore is giving each other access to relevant data from trade repositories licensed in either markets under new agreement.
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Australian Regulator Issues New Guidelines on Disclosure Reforms
Editors, Regulation Asia September 18, 2014The Australian Prudential Regulation Authority has released for industry consultation a paper that outlines the new disclosure requirements for authorised deposit-taking institutions.
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Australia’s Regulator Urges G20 to Tackle Big Bank Risks
Editors, Regulation Asia September 17, 2014Australia’s new chief banking regulator has urged the G20 nations to continue to work on reducing risks of large banks’ failures, citing the need to strengthen current risk-based regime and boost banks’ capacity to absorb losses.
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Australian Regulator Grants First Trade Repository Licence
Editors, Regulation Asia September 16, 2014Australian Securities and Investments Commission has granted an Australian derivative trade repository licence to DTCC Derivatives Repository (Singapore) Pte Ltd (DDRS), the first licence of its kind in the country.
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Australian Businesses Warn Against Hasty Bank Reforms
Editors, Regulation Asia September 10, 2014Australia’s businesses have cautioned the financial system inquiry that forcing “too-big-to-fail” banks to hold more capital could drive up borrowing costs for business.
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Australian Banks Seek Bail-Out Plan
Editors, Regulation Asia September 1, 2014Imposing losses on bank creditors in a crisis could see the banking sector downgraded by ratings agencies, increase funding costs across the economy and potentially exacerbate a downturn, Australia’s largest banks have warned.
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Australian Regulator Seeks More Power In Financial System
Editors, Regulation Asia August 30, 2014The Australian Securities and Investment Commission is asking for the power to ban investment products and intervene more heavily in the market.
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Australian Banks Reject Capital Holding Call
Editors, Regulation Asia August 27, 2014Australian banks have rejected suggestions by Financial Services Inquiry chief David Murray that the industry needs to increase its holdings of capital.
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Australian Banks Face Class Actions on Fees
Editors, Regulation Asia August 18, 2014Australian banks are facing open class actions filed by legal firm Maurice Blackburn over late credit card fees worth hundreds of millions of dollars, in what could be one of the country’s biggest class suits ever.
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Macquarie to Contact Thousands of Clients Over Poor Advice
Editors, Regulation Asia August 15, 2014The Australian Securities and Investments Commission has ordered Macquarie Group to contact 160,000 clients who may have lost money due to flawed financial advice.
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