Australia

Fintech / Regtech

Australian Fintech Consortium Launches Solution to Tackle Verification and Identity Theft

By Mark Johnston | 25/10/2023

AP+ launches ConnectID, a service that lets customers verify their identity without oversharing their data, becoming the first non-government accredited […]

Crypto / Digital Assets

Key Takeaways from Australia’s Proposal for Regulating Digital Asset Platforms

By Angela Ang | 23/10/2023

Angela Ang says Australia’s proposal for regulating digital asset platforms meets a high regulatory bar while also supporting innovation.

ESG / Sustainability

Super Funds Urged to Ensure Accurate Sustainable Finance Disclosures

By Mark Johnston | 21/10/2023

At a roundtable, APRA and ASIC asked super fund trustees to prepare for mandatory climate-related financial disclosure requirements.

Enforcement

ASIC Bans Former PwC Partner Peter-John Collins for Eight Years

By Editors | 21/10/2023

ASIC said Peter-John Collins is “not a fit and proper person” and that preventing him from working in the financial services industry was “in the public interest”.

Capital / Liquidity

RBNZ to Amend ESAS Access Policy, Eligibility Criteria

By Editors | 20/10/2023

RBNZ consultation revealed “considerable demand” for access to ESAS by non-banks for payments and settlements, access to HQLA, and interest income.

ASIC Tweaks Reportable Situations Regime to Reduce Industry Burden

By Mark Johnston | 20/10/2023

Certain breaches will no longer be automatically reportable if they meet certain criteria, like if they impact only one person or don’t cause any financial loss or damage.

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.