Australia

Enforcement

Enforcement ‘At the Heart’ of ASIC’s Work: Joe Longo

By Sanday Chongo Kabange | 16/02/2023

ASIC warns that it will target greenwashing, predatory lending and misleading insurance pricing promises.

ACCC Launches Inquiry into Bank Rate-Setting Practices

By Editors | 16/02/2023

The ACCC said banks have in most cases “fully passed” through interest rate hikes to their home loan rates, but less so to interest rates on deposit products.

NZ FMA Finalises New Reporting Requirements for Advisers

By Editors | 16/02/2023

The FMA said the first regulatory returns will be due by 30 September 2024, for the 12-month period ending 30 June.

Market Infrastructure

ASIC to Modify Scope of Clearing Derivatives Obligation

By Editors | 15/02/2023

ASIC proposes to replace products referencing USD LIBOR with OIS contracts referencing SOFR, and to remove AUD forward rate agreements.

AML / KYC

The Corruption Perception Index & Australia’s Tranche 2 AML Legislation

By Julian Fenwick | 15/02/2023

Australia’s delays in passing Tranche 2 legislation compared with swift implementation in New Zealand highlights different approaches between the two countries, says Julian Fenwick.

Market Infrastructure

CFIUS Confirms ‘Excepted Foreign State’ Status for UK, New Zealand

By Editors | 13/02/2023

UK and New Zealand investors do not have to undergo national security reviews for noncontrolling investments in the US.

Capital / Liquidity

RBNZ Liquidity Policy Review Advances to Second Stage

By Sanday Chongo Kabange | 12/02/2023

The RBNZ is seeking feedback on whether the LCR and NSFR standards should be adopted in New Zealand.

Fintech / Regtech

Australia to Review Modernising Business Registers Programme

By Editors | 11/02/2023

The programme involves consolidating dozens of registers into a single platform run by a one-stop shop service.

Australia to Consult on Changes to Financial Advice Framework

By Sanday Chongo Kabange | 10/02/2023

The newly released quality of advice review report offers 22 recommendations for regulatory changes to make financial advice more affordable and accessible.