Australia

ESG / Sustainability

RBNZ Finalises New Guidance on Managing Climate Risk

By Editors | 26/03/2024

Accounting for consultative feedback, the guidance includes more examples, reduces overlaps with other guidance, and draws more links to existing parts of the prudential regime.

Enforcement

ASIC Bans Director for Operating Unlicensed Crypto Fund Dishonestly

By Mark Johnston | 26/03/2024

ASIC found, among other things, that Brian Creigh used investor money to invest in an overseas investment scam. costing them A$7.7mn.

Fintech / Regtech

Australia’s High Value Clearing System Has Adopted ISO 20022

By Mark Johnston | 25/03/2024

The transition was one of the “largest and most complex programmes of work AusPayNet has undertaken to date in-house,” said CEO Andy White.

Capital / Liquidity

Kiwibank is Best Placed to Disrupt NZ Banking Oligopoly

By Ranamita Chakraborty | 25/03/2024

New Zealand’s Commerce Commission says Kiwibank is the best placed among the non-big-four banks to be a “disruptive competitor”.

AML / KYC

Australia: Queensland Passes New Law to Curb Money Laundering at Casinos

By Sanday Chongo Kabange | 22/03/2024

Casinos will be restricted from accepting more than a prescribed amount of cash from a person for gambling related transactions in a 24-hour period.

ESG / Sustainability

ASIC to Develop Climate Reporting Guidance for Small Businesses

By Manesh Samtani | 20/03/2024

Scope 3 requirements for larger businesses mean small businesses may come into scope, even if they do not have direct climate reporting obligations.

Capital / Liquidity

RBNZ Assesses Initial Impacts of New Bank Capital Framework

By Manesh Samtani | 20/03/2024

All NZ banks met their capital requirements over the previous two years. Costs of capital broadly in line with initial estimates. No evidence of financial market disruptions.

Capital / Liquidity

APRA Paper Offers Justification for Lower IRB Risk Weights

By Manesh Samtani | 18/03/2024

APRA explains why the difference in risk-weights for housing lending between IRB and standardised banks is appropriate.

AML / KYC

Australia: ACCC Report Shows Scam Losses Are Declining

By Sanday Chongo Kabange | 18/03/2024

Report says scam losses in Q4 2023 almost halved compared to the same quarter in 2022, largely due to a sharp decline in investment scams.