The Australian Securities & Investments Commission is seeking reforms that would prevent people from making unsubstantial claims of client legal privilege that could delay investigations into breaches of the corporation law.
The Depository Trust & Clearing Corporation (DTCC) has urged institutions to stay ahead of reporting deadlines under the next phase of Australia’s derivatives market reporting rules, which will be implemented next month.
The wave of Chinese companies listing on the Australian stock exchange in the past three years, many with less than 2% free float, has raised concern on whether initial public offering (IPO) rules should require better liquidity from foreign businesses.
Australian Securities and Investments Commission is seeking additional powers to better regulate banks, and to intervene in the sale of products that harm consumers.
Australia’s banking regulator is considering backing calls for banks to strengthen their balance sheets, saying it is also reviewing the impact bankers’ pay has on breeding work cultures that can potentially harm the stability of the country’s financial system.
The Reserve Bank of New Zealand proposes to amend existing rules by requiring all locally incorporated banks to include residential property investment mortgage loans in a specific asset sub-class, and hold appropriate regulatory capital for those loans.
The Reserve Bank of Australia has asked the Australian Securities and Investments Commission to investigate sharp movements in the Australian dollar in the minute before the March interest rates policy decision was announced on Tuesday afternoon.
Australian banks and tech companies are providing $2 million in funding to launch the country's first fintech innovation hub in Sydney this May.
Pension funds are bigger than many banks but only now are regulations catching up.
Australia’s largest banks were among financial institutions that defended their corporate tax practices in submissions to the Senate inquiry, which is currently looking into the adequacy of the country’s corporate tax laws.