Australia

Sanctions

US, Canada, New Zealand Target Belarus With New Sanctions

By Editors | 10/08/2023

The coordinated sanctions come on the three-year anniversary of a presidential election which Alexander Lukashenko won by allegedly falsifying votes.

Securities / Derivatives

APRA Finalises Methodology for Combining MySuper Performance Histories

By Mark Johnston | 10/08/2023

The methodology will apply in the MySuper performance test, for situations such as product mergers or closures where performance histories must be combined.

ESG / Sustainability

New Zealand: FMA Official Tackles Greenwashing Concerns

By Editors | 10/08/2023

FMA executive director Paul Gregory addressed greenwashing in funds industry, focusing on regulatory perspectives on fair dealing and members’ interests.

Capital / Liquidity

APRA Removes Liquidity Add-on for Bendigo and Adelaide Bank

By Editors | 10/08/2023

APRA applied a ten percent add-on to the net cash outflow component of Bendigo’s LCR calculation in October 2020.

ESG / Sustainability

BlackRock Launches NZ$2b Fund to Support New Zealand Transition

By Mark Johnston | 09/08/2023

BlackRock has partnered with the New Zealand government to launch a NZD 2 billion climate infrastructure fund.

AML / KYC

AUSTRAC to Implement Pre-verification Requirement for Online Gambling

By Editors | 08/08/2023

Identification verification procedures must be carried out before online gambling services are provided to customers, starting 29 September.

Crypto / Digital Assets

Australia Expected to Consult on Crypto Rules Within Weeks – Report

By Editors | 08/08/2023

The rules are expected to cover crypto custody and licensing for exchanges, as well as obligations for crypto firms to protect customer funds.

Capital / Liquidity

Australia Proposes Licensing Exemptions for FFSPs

By Ranamita Chakraborty | 08/08/2023

The proposed legislation reduces entry barriers for foreign financial services providers entering the Australian market while ensuring appropriate regulatory oversight.

AML / KYC

CBA Imposes Monthly Limit on Transfers to Crypto Exchanges

By Editors | 08/08/2023

Transfers to crypto exchanges beyond A$10,000 will be declined. In some cases, certain payments to crypto exchanges will be held for up to 24 hours, regardless of the amount.