Australia

AML / KYC

SkyCity Adelaide Ordered to Review AML/CTF Programme

By Editors | 30/05/2023

SkyCity Adelaide ordered to report on how it is meeting its AML/CTF obligations, and appoint an independent monitor.

Market Infrastructure

RBA Publishes Findings from Payments Infrastructure Review

By Sanday Chongo Kabange | 30/05/2023

The external review was conducted by Deloitte in response to a four-hour outage suffered by the RBA in October 2022.

Enforcement

PwC Australia Announces Removal of Nine Partners

By Sanday Chongo Kabange | 30/05/2023

PwC Australia has directed nine partners to go on leave pending the outcome of an investigation into the leak of confidential government information.

ESG / Sustainability

NZ FMA to Issue Additional Guidance on Climate Disclosures

By Sanday Chongo Kabange | 30/05/2023

The FMA will issue guidance covering monitoring, third-party providers, record-keeping, and scenario analysis in June and July.

Capital / Liquidity

RBNZ Confirms Plan to Ease Mortgage Lending Restrictions

By Ranamita Chakraborty | 29/05/2023

A 10 percent limit on owner-occupier loans with an LVR above 80 percent will increase to 15 percent.

AML / KYC

Australia Considers Expansion of Modern Slavery Law

By Manesh Samtani | 29/05/2023

The expansion would include penalties for failing to report, submitting a report with false information, or failing to implement a due diligence system.

Capital / Liquidity

Approaches to Credit Risk Capital Often Misunderstood: APRA

By Manesh Samtani | 27/05/2023

APRA explains that the differences between the IRB and standardised approaches to credit risk are justified, fair and equitable.

Market Infrastructure

APRA Directs Regulated Entities to Address MFA Implementation Gaps

By Sanday Chongo Kabange | 26/05/2023

Multi-factor authentication is one of the “most effective controls” an organisation can implement to unauthorised access to a device or network, APRA says.

Australia to Expand AFCA Remit to Superannuation

By Sanday Chongo Kabange | 25/05/2023

Proposed changes will allow AFCA to hear complaints relating to superannuation whether or not they meet the definition of superannuation complaint in the Corporations Act.