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Australia
Capital / Liquidity
APRA Calls for Improvements in Credit Risk Provisioning Practices
By Sanday Chongo Kabange | 19/10/2023
Judgment-based adjustments to address model and data limitations should be supported by appropriately documented analysis and robust controls and governance.
Market Infrastructure
ASIC Warns Firms of Third-Party Cyber Risk
By Mark Johnston | 19/10/2023
44 percent of respondents to an ASIC survey indicated that they did not manage third-party or supply chain risk.
Sanctions
US & Allies Reimpose Iran Sanctions Following UNSCR Expiry
By Manesh Samtani | 19/10/2023
A 2015 UN Security Council resolution targeting Iran’s ballistic missile, nuclear, and drone programmes has expired.
Crypto / Digital Assets
ASIC Chair Stresses Need for Strong Regulation in Crypto
By Mark Johnston | 18/10/2023
ASIC chair Joe Longo was speaking hours after the launch of a new consultation paper on the future regulation of crypto service providers.
Market Infrastructure
CPMI Publishes Harmonised Data Requirements for ISO 20022
By Mark Johnston | 18/10/2023
The BOE, ECB and RBA have committed to aligning with the new requirements and call on other market infrastructures and payment service providers to do the same.
Securities / Derivatives
DSB Launches UPI Service, a Milestone for Derivatives Markets
By Manesh Samtani | 18/10/2023
The US, EU, UK, Australia and Singapore will all start requiring UPI reporting for OTC derivatives transactions in 2024.
Crypto / Digital Assets
Australia Consults on Proposed Regulatory Framework for Crypto
By Manesh Samtani | 16/10/2023
Digital asset platforms would be subject to existing financial services laws and required to obtain a licence from ASIC.
Enforcement
ASIC Wins ‘Landmark’ Case Over ANZ’s 2015 Share Placement
By Editors | 15/10/2023
The Federal Court said ANZ breached the law by failing to disclose that its underwriters took up nearly a third of its 2015 share placement.
Fintech / Regtech
Australia to Regulate Digital Payment Providers
By Editors | 12/10/2023
The RBA will regulate new and emerging payments systems the same way as credit cards, EFTPOS and other transactions.
Enforcement
Kiwibank Fined for Overcharging Transaction Fees
By Editors | 12/10/2023
The court said the relevant conduct involved “negligence, and no intention to deprive customers of their entitlements.”
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