Australia

APRA Directs Super Funds to Improve Operations

By Ranamita Chakraborty | 29/10/2021

APRA has concluded three thematic reviews into core operational areas for super funds. Trustees are asked to draw from the findings to improve their operations.

Crypto / Digital Assets

ASIC Issues Guidance on Crypto-asset Investment Products

By Editors | 29/10/2021

ASIC says it has introduced a new ‘crypto-asset’ category in the licensing application for responsible entities.

Capital / Liquidity

APRA Defers Implementation of IRRBB, FRTB, CVA Risk

By Editors | 27/10/2021

The prudential standard for IRRBB will now take effect from 1 January 2024. The FRTB and CVA risk frameworks will take effect from 1 January 2025.

ESG / Sustainability

RBNZ Outlines Action Plan for Addressing Climate Risks

By Sanday Chongo Kabange | 27/10/2021

The RBNZ will develop a guidance note to support regulated entities in managing climate risks, focusing on physical, transition and liability risks.

Australia Empowers ASIC as Financial Advice Disciplinary Body

By Ranamita Chakraborty | 26/10/2021

Parliament has passed legislation enabling an ASIC panel to become the sole disciplinary body for financial advisers from January 2022.

ESG / Sustainability

New Zealand Passes Climate Reporting Legislation in World First

By Sanday Chongo Kabange | 24/10/2021

Mandatory climate disclosures will be required from early 2024, for annual reporting periods that start on or after 1 January 2023.

AFCA to Provide Clarity on New Compensation Scheme

By Editors | 23/10/2021

AFCA says it will help to provide clarity on the treatment of complaints about losses arising from financial products and financial advice.

Market Infrastructure

AFMA Calls for Removal of ‘LIBOR Cap’ Imposed on Foreign Banks

By Editors | 22/10/2021

AFMA is concerned that the LIBOR Cap will be replaced with a capping mechanism to be determined solely by the ATO.

AML / KYC

Australia Senate Report Proposes New Crypto Licensing Regime

By Manesh Samtani | 21/10/2021

The committee recommends a new category of market licence be created for crypto exchanges and a new company structure for DeFi platforms.