Top officials at Australia’s largest banks are reiterating their calls for the Financial System Inquiry to consider the cost of imposing higher capital requirements on banks to counter systemic risks.
Australian Securities and Investments Commission (ASIC) has clarified the role of credit licensees in lending to clients under a new guidelines it published recently.
New Zealand’s Commerce and Consumer Affairs Minister Paul Goldsmith has confirmed the approval of the second phase of the Financial Markets Conduct Act, which covers additional rules on disclosures and issuance of financial products.
The Australian Securities and Investment Commission is lobbying for expanded powers to receive telecommunications data from law enforcement bodies to fight financial crime.
The Reserve Bank of Australia and the banking industry are looking to change the payment methods in the country to deliver real-time, accessible fund transfers to the community.
Australian Securities and Investments Commission has issued guidelines for foreign companies making offers of CHESS Depository Interests (CDIs) over their shares and options to investors in Australia.
Proactive strategies for optimising compliance systems will play a key role in bank business development.
New Zealand could be an early adopter of the multilateral follow-up to the controversial United States Foreign Account Tax Compliance Act (FATCA), but local banks are raising concern about the readiness of the sector for such initiative.
The 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.
The Australian Prudential Regulation Authority has released for industry consultation a paper that outlines the new disclosure requirements for authorised deposit-taking institutions.