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ESG / Sustainability
APRA to Survey Regulated Entities on Climate Risk Management
By Sanday Chongo Kabange | 03/03/2022
The survey will assess the alignment between current approaches used by regulated entities and the expectations set out in CPG 229 and the TCFD recommendations.
Capital / Liquidity
RBNZ Launches First Consultation Reviewing Liquidity Policy
By Editors | 01/03/2022
The paper asks for initial views on whether the RBNZ should consider adopting the BCBS liquidity framework, and whether its proposed principles for the review are appropriate.
AML / KYC
AUSTRAC Launches Federal Court Proceedings Against Crown Casinos
By Editors | 01/03/2022
Crown Melbourne and Crown Perth failed to assess ML/TF risk, carry out appropriate due diligence on customers, and establish a transaction monitoring programme.
AML / KYC
Singapore, Korea, Switzerland Announce Sanctions Against Russia
By Manesh Samtani | 01/03/2022
Singapore will block certain Russian banks and financial transactions connected to Russia. Major Singapore banks are already restricting trade financing for Russian commodities.
Capital / Liquidity
RBA to Adjust Liquidity-Providing Market Operations
By Editors | 27/02/2022
The RBA will adjust the way it sets interest rates for repo transactions with banks and shorten the maximum tenor to four weeks.
APRA Super Fund Performance Test Results in Mergers, Exits
By Editors | 27/02/2022
13 super funds failed APRA’s inaugural MySuper Product Performance Test last August. The worst performer, Maritime Super, is in talks to merge with industry fund Hostplus.
AML / KYC
Russia Facing Comprehensive Sanctions Over Ukraine Invasion
By Manesh Samtani | 25/02/2022
The US is targeting all ten of Russia’s largest financial institutions. Russian access to most major markets has been restricted.
Securities / Derivatives
RBNZ to Gradually Unwind QE Programme Starting in July
By Ranamita Chakraborty | 24/02/2022
Rather than sell bonds back into the secondary market, the RBNZ will sell them to the Treasury at a pace of NZD 5 billion each fiscal year.
Capital / Liquidity
RBNZ Consults on Dual Reporting Requirements for IRB Banks
By Sanday Chongo Kabange | 22/02/2022
The RBNZ plans to bring dual reporting requirements into effect from 1 July 2022, requiring IRB banks to also disclose RWA outcomes based on the standardised approach.
Enforcement
Australian Court Orders Super Trustee to Pay A$20m
By Editors | 22/02/2022
Aware Financial Services Australia charged over 25,000 customers over AUD 50 million in fees for financial services it did not provide.
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