Australia

Securities / Derivatives

ASX Proposes New Fee Model for Issuer Services

By Editors | 10/03/2022

The new fee model is intended to be simpler and provide greater certainty to issuers about ASX charges for issuer services.

Capital / Liquidity

RBNZ Defers Effective Date of New Insurance Solvency Standards

By Mark Johnston | 10/03/2022

The interim standard will come into force on 1 January 2023. The RBNZ is also consulting on the penalties and enforcement tools it has available for supervising insurers.

Capital / Liquidity

APRA Imposes New Limits on the Use of Offshore Reinsurers

By Mark Johnston | 10/03/2022

Updated prudential standard sets limits on exposures to offshore reinsurers. If a life company exceeds these limits, additional capital would need to be held.

AML / KYC

Russia Warns of “Swift” Response to US Energy Import Ban

By Manesh Samtani | 10/03/2022

EU adds 160 names to sanctions list, extends SWIFT ban to Belarus; New Zealand passes Russia Sanctions Bill. Fitch projects “imminent” sovereign default.

Fintech / Regtech

ASIC Reverses Plans to Extend ePayment Protections to Small Business

By Editors | 08/03/2022

ASIC will publish an updated ePayments Code in April, enhancing some consumer protections and extending those protections to payments made using the NPP.

AML / KYC

New Zealand to Pass Russia Sanctions Bill This Week

By Manesh Samtani | 08/03/2022

The bill will pass “under urgency” this week, to provide further, extensive sanctions on Russia and individuals and companies connected to the Russian government.

Capital / Liquidity

APRA Commences Post Implementation Review of LCR, NSFR

By Editors | 06/03/2022

The review will inform potential adjustments to the LCR and NSFR and a broader review of APRA’s liquidity requirements.

Enforcement

NZ FMA Censures Derivatives Issuer Over Suitability Checks

By Editors | 05/03/2022

CTRL Investments allowed investors who could not demonstrate the necessary skills and knowledge to trade derivatives.

Enforcement

ASIC Consults on When to Convene FSCP Sitting Panels

By Ranamita Chakraborty | 03/03/2022

ASIC proposes that it will generally convene an FSCP sitting panel when misconduct is widespread or part of a growing trend, or where doing so can have deterrence benefits.