Australia

Custody & Infrastructure

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.

Reporting & Disclosures

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.

Conduct, Culture & Accountability

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”.

Payments & Settlements

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.

Conduct, Culture & Accountability

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.

Credit Risk

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.

Cybersecurity

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.

PEPs & 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.

Cryptocurrency

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.