Australia

Securities / Derivatives

SGX Goes Live with NZX Dairy Derivatives Contracts

By Editors | 29/11/2021

The partnership with SGX will bring “unprecedented access” to the dairy derivatives markets, says NZX chief Mark Peterson.

Securities / Derivatives

Australia Introduces Bill to Enable CCIV Fund Structure

By Editors | 29/11/2021

The CCIV has the potential to unlock significant opportunities for the Australian funds management industry, says Financial Services Council CEO Sally Loane.

Market Infrastructure

Australia to Drop LIBOR in Cross Currency Swaps Trading

By Manesh Samtani | 29/11/2021

BBSW/LIBOR will shift to BBSW/SOFR in cross currency basis swaps trading, though the move presents challenges inherent to an IBOR/RFR pairing.

ESG / Sustainability

APRA Finalises Guidance on Climate Change Financial Risks

By Sanday Chongo Kabange | 29/11/2021

The new climate change prudential practice guide covers governance, risk management, scenario analysis and disclosure.

AML / KYC

Australia Introduces Sanctions Reform Bill to Parliament

By Manesh Samtani | 28/11/2021

The bill allows targeted sanctions to be imposed to address themes such as gross human rights violations, malicious cyber activity and serious corruption.

Enforcement

ASIC Sues ANZ Over Home Loan Introducer Programme

By Editors | 27/11/2021

ASIC says ANZ breached credit laws by accepting customer information and documents from unlicensed individuals, some of which was fraudulent.

Capital / Liquidity

RBNZ Calls for Risk Governance Improvements at Westpac NZ

By Ranamita Chakraborty | 26/11/2021

An independent report found issues were acknowledged by the board for several years but they were not given due attention or effective remediation.

ACCC Approves NAB Acquisition of Citi Consumer Business

By Editors | 26/11/2021

In its review, which focused on competition in the supply of credit cards, the ACCC found that the transaction “would not substantially lessen competition”.

Market Infrastructure

ASIC Imposes Licence Conditions on ASX Over 2020 Outage

By Sanday Chongo Kabange | 26/11/2021

ASIC wants market participants to be able to re-route trades to alternative venues such as Chi-X in the event of a future market outage.