Australia

Liquidity Risk

APRA Issues Draft Guidance on Super Fund Investment Governance

By Editors | 19/11/2022

The guidance covers the new SPS 530 requirements on liquidity management, stress testing and valuations, as well as APRA’s expectations on ESG risk management.

Sustainable Finance

New Zealand a Laggard in Net Zero Investment

By ESG Investor | 19/11/2022

Survey finds “disappointing progress” in new net zero commitments, but notes progress on policies by asset owners and fund managers.

Cybersecurity

Medibank Customers Face Continued Threat of Data Leaks

By Manesh Samtani | 17/11/2022

Medibank refused to pay a $10m ransom to hackers, who have since released information linking individuals to drug addiction, alcohol abuse, abortions and mental health treatment.

Supervision & Enforcement

RBNZ Proposes More Intensive Approach to Supervising Insurers

By Sanday Chongo Kabange | 17/11/2022

The RBNZ is consulting on governance, risk management, accountability for key officers, supervisory oversight, and data disclosures.

Clearing & Post-Trade

ASX Pauses CHESS Replacement Project to Reassess Design

By Manesh Samtani | 17/11/2022

ASX will write off about A$250mn in capitalised software, in response to an independent review by Accenture. ASIC and the RBA express disappointment.

Data Privacy

New Zealand Confirms Plans to Roll-out Out Open Banking

By Editors | 16/11/2022

The banking industry will be the first sector in New Zealand to implement a Consumer Data Right mechanism, like in Australia.

Capital Adequacy

APRA Proposes Amendments to Capital Requirements for PPF Providers

By Editors | 16/11/2022

PPF providers are a type of stored value facility provider. The proposed changes are part of a broader review of APS 610.

Operational Risk

APRA to Revise Financial Resources Rules for Super Trustees

By Editors | 16/11/2022

The proposed changes will require trustees to adopt a more sophisticated risk-based approach to the management of operational risk financial resources.

Operational Risk

APRA Proposes Measures to Improve Super Fund Transfer Process

By Editors | 13/11/2022

The measures are proposed in response to the erosion of member benefits that occurs when successor fund transfers are carried out.