Australia

Clearing & Post-Trade

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.

Anti-Money Laundering

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.

Structural Regulation

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.

Structural Regulation

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.

Credit Risk

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.

Fraud, Scams & Cybercrime

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.

Capital Adequacy

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.

Fraud, Scams & Cybercrime

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.

Structural Regulation

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.