Australia

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    Market Infrastructure

    Industry Asks ASIC to Lengthen SOFR OIS Implementation Period

    By Sanday Chongo Kabange | 04/04/2023

    ISDA and AFMA responded to an ASIC proposal to remove OIS contracts referencing USD LIBOR from derivatives clearing requirements and replace them with those referencing SOFR.

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    AML / KYC

    Australia Introduces AML/CTF Amendment Bill to Parliament

    By Editors | 04/04/2023

    The amendments will strengthen and modernise aspects of Australia’s AML/CTF regime, and assist AUSTRAC in fulfilling its functions.

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    ACCC Undecided About Authorising ANZ-Suncorp Merger

    By Editors | 04/04/2023

    The ACCC is calling for further submissions from industry and consumers on how the proposed acquisition may impact competition.

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    APRA Reviews Data Collection on Access to Bank Branches

    By Editors | 04/04/2023

    The review is aimed at identifying ways APRA’s Points of Presence data collection can better capture indicators on how banking services are accessed.

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    Capital / Liquidity

    RBNZ Finalises Framework for Imposing DTI-based Lending Curbs

    By Editors | 03/04/2023

    Banks have 12 months to prepare their systems for the possible implementation of mortgage lending restrictions based on debt-to-income ratios.

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    NAB Introduces New Security Measure to Combat Scams

    By Sanday Chongo Kabange | 31/03/2023

    NAB customers may receive a prompt when engaging in unusual transactions, such as investing in crypto for the first time.

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    Capital / Liquidity

    NobleOak Life Breached Capital Requirements, Says APRA

    By Editors | 31/03/2023

    APRA said breaches are being remediated and are not connected to any recent financial market movements or developments.

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    AML / KYC

    ACCC Warns of Rising Bank Impersonation Scams in Australia

    By Editors | 30/03/2023

    Scammers can make their calls and texts appear as part of the same conversation thread as legitimate messages from a bank, the ACCC warns.

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    Enforcement

    ASIC Commences Probe into Regulatory Breaches by ASX

    By Sanday Chongo Kabange | 30/03/2023

    ASIC is investigating whether ASX breached the law in its oversight of and disclosures relating to the CHESS replacement programme.

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    ESG / Sustainability

    Vanguard Issued Warning in NZ for Late Disclosure of ASIC Action

    By Editors | 30/03/2023

    Vanguard took 55 business days to file a notice on New Zealand’s register about ASIC’s enforcement action. The requirement is 5 business days.

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