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Securities / Derivatives
NZX to Migrate Dairy Derivatives to SGX on 27 November
By Editors | 21/10/2021
NZX has amended its Clearing and Settlement Rules and Procedures, and the NZX Derivatives Market Procedures, to give effect to the migration of open interests.
APRA Postpones Implementation of Updated ARS 720.1
By Ranamita Chakraborty | 21/10/2021
Delaying the commencement will provide ADIs with more time to make transition to the updated standard, APRA said.
AML / KYC
AUSTRAC Publishes Guidance on Geographical Link Test
By Editors | 21/10/2021
The geographical link test helps firms that provide designated services determine whether they have AML/CTF obligations in Australia.
RBNZ Reviews Policy for Branches of Overseas Banks
By Editors | 21/10/2021
The RBNZ says there are inherent limitations on its ability to apply its regulatory standards to all branches and to supervise them effectively.
Market Infrastructure
APRA Issues Updated Guidance on New Remuneration Standards
By Sanday Chongo Kabange | 21/10/2021
The guidance has been updated to align with the Financial Accountability Regime and provide additional examples of better practices to help entities transition smoothly.
AML / KYC
AUSTRAC Seizes Star Casino Files in Money Laundering Probe
By Sanday Chongo Kabange | 20/10/2021
AUSTRAC is reported to be building a case against Star Entertainment Group over alleged shortcomings in its AML/CTF controls.
Enforcement
Australian Court Fines Colonial First State for Misleading Members
By Editors | 19/10/2021
The court said Colonial First State Investments engaged in a 26-month “concerted campaign” that sought to take advantage of members.
FMA Sets Target Dates for Financial Advice Licensing
By Editors | 19/10/2021
Transitional licences under the new financial advice regime will expire on 16 March 2023. Providers are asked to apply for full licences ahead of time.
ESG / Sustainability
RBA Warns of Divestment Risk Amid Climate Change Threat
By Sanday Chongo Kabange | 19/10/2021
While there are currently only isolated examples of divestment from Australia because of climate risk, the likelihood of more significant divestment is increasing.
Enforcement
NZ FMA Censures Jarden Securities for Client Money Breaches
By Editors | 19/10/2021
OM Financial, which amalgamated with Jarden in March 2021, transfered its own money into the trust account designated to hold investor money.
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