ADVERTISEMENT
Treasury Offers Recommendations to Improve AFCA’s Operations
By Sanday Chongo Kabange | 05/12/2021
Treasury recommends government remove the legislative requirement for authorised credit representatives to be members of AFCA.
AML / KYC
Australian Parliament Approves Magnitsky-style Sanctions Law
By Manesh Samtani | 05/12/2021
The legislation will allow Australia to address gross human rights violations, serious corruption, malicious cyber activity, among other themes.
Fintech / Regtech
RBNZ Proposes Policy Options to Preserve Cash System
By Sanday Chongo Kabange | 02/12/2021
The increasing appeal of non-cash and online payment options and the reducing number of bank branches and ATMs could present resilience issues for the cash system.
Fintech / Regtech
ASX Opens First Industry Test Environment for CHESS Replacement
By Editors | 01/12/2021
ITE1 is open for software providers to test functional and non-functional workflows for the new equities clearing and settlement system.
Capital / Liquidity
RBNZ to Amend Connected Exposures Policy for Banks
By Editors | 30/11/2021
The RBNZ proposes to remove the aggregate gross exposure limit and to allow banks to recognise credit risk mitigations when measuring aggregate net exposures.
AML / KYC
AUSTRAC to Update Guidance on Reporting Cash Transactions
By Editors | 30/11/2021
A TTR will be required for each individual cash transaction of A$10,000 or more. Reporting entities will not need to combine transactions when submitting TTRs.
Fintech / Regtech
ACCC to Launch CDR Sandbox to Support Innovation
By Editors | 30/11/2021
The sandbox aims to help current and prospective CDR participants build and test their solutions faster, and improve accuracy and quality.
New Responsible Lending Laws Take Effect in New Zealand
By Sanday Chongo Kabange | 30/11/2021
The new law requires lenders to act responsibly at all times. They can be forced to refund interest, fees and damages for failing to do so.
Capital / Liquidity
APRA Finalises New Capital Framework for Banks
By Manesh Samtani | 30/11/2021
The new framework seeks to strengthen financial resilience rather than require banks to raise additional capital, APRA says.
Enforcement
ASIC Files Multiple Court Proceedings Against Westpac
By Editors | 30/11/2021
Westpac has already agreed to admit to the allegations, remediate A$80mn to customers, and pay A$113mn in penalties, subject to court approval.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.