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.
Australia’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.
Australian 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.
Australia’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.
Imposing 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.
The Australian Securities and Investment Commission is asking for the power to ban investment products and intervene more heavily in the market.