Australia

Crypto / Digital Assets

Australia: Senator Introduces New Crypto Regulation Bill

By Editors | 29/03/2023

Senator Andrew Bragg said Australia’s crypto regulation has stalled and the government’s “token mapping” consultation programme is too slow.

ESG / Sustainability

RBNZ Proposes New Guidance on Managing Climate Risk

By Editors | 29/03/2023

The guidance proposes that regulated entities develop their capabilities in climate-related scenario analysis and stress testing, outlining the RBNZ’s latest thinking on best practice.

Enforcement

ASIC Fines ALT Financial Group for Failing To Lodge Financial Reports

By Editors | 29/03/2023

The fine was one of the largest ever issued by ASIC for failures to lodge financial reports. ALT Financial Group was convicted in absentia on 13 ASIC charges.

Australia Won’t Force Banks to Reimburse Scam Losses

By Editors | 28/03/2023

Minister Stephen Jones reportedly said compensation for scams should only be required if banks have not met consumer protection standards.

Capital / Liquidity

APRA Stress Tests Reveal Banking System Strength

By Editors | 28/03/2023

APRA chairman John Lonsdale shared findings from its latest banking stress test and reviews on cyber preparedness and resilience.

ESG / Sustainability

AFMA Updates Environmental Products Conventions

By Editors | 28/03/2023

AFMA revised its environmental products conventions to align with other conventions and clarify their non-mandatory nature.

Capital / Liquidity

EU to Cooperate with Australia & NZ on Bank Resolution Planning

By Editors | 28/03/2023

The cooperation arrangements focus on bank resolution planning and its implementation for banks with cross-border operations.

Market Infrastructure

Australia Hit by New String of Cyber Attacks

By Editors | 27/03/2023

NGS Super, Crown Resorts and Latitude Financial Services have all disclosed this week that they were subject to cyber attacks.

Capital / Liquidity

Bank Exposures to Flood Risk Likely Compounded by Other Risks: RBNZ

By Editors | 27/03/2023

Bank capital ratios are resilient when each flood event is considered in isolation, but flood risk could potentially compound with other risks.