Australia

Market Infrastructure

Australia Consults on Expansion of CDR to Telecom Sector

By Editors | 27/07/2021

Telecommunications will be the third sector to be considered for designation after banking and energy, which were designated in 2019 and 2020.

Market Infrastructure

RBNZ, FMA Consult on Implementation of FMI Act

By Sanday Chongo Kabange | 27/07/2021

The consultation seeks views on how financial market infrastructures will be identified as systemically important and the proposed approach to developing standards.

Capital / Liquidity

RBNZ Drafts Interim Solvency Standard to Account for IFRS 17

By Ranamita Chakraborty | 27/07/2021

The inclusion of risk adjustments in insurance liabilities is expected to increase capital requirements for life insurers.

Market Infrastructure

ASIC to Update Guidance on Anti-hawking Regime

By Ranamita Chakraborty | 23/07/2021

The updated guidance reflects the reforms which consolidate three existing hawking prohibitions into a ban covering all financial products.

ASIC Publishes Reference Checking Protocol & Guidance

By Editors | 22/07/2021

The protocol and guidance will help financial advisers and mortgage brokers comply with new reference checking and information sharing obligations.

APRA Asks Insurers to Review Risk Management Frameworks

By Ranamita Chakraborty | 22/07/2021

The self-assessments must be submitted to APRA by 30 November. Feedback will be provided early next year.

Capital / Liquidity

APRA Issues Update on Policy Settings for Bank Capital Reforms

By Ranamita Chakraborty | 22/07/2021

APRA says some requirements associated with unquestionably strong benchmarks will be revised and simplified. A quantitative impact study is being conducted.

ASIC Publishes Data Definitions for New Complaints Handling Regime

By Ranamita Chakraborty | 22/07/2021

New dispute resolution standards will commence on 5 October this year. ASIC has released a data dictionary and data glossary to support pilot testing.

Australia Issues Consultation on Retirement Income Covenant

By Sanday Chongo Kabange | 21/07/2021

Superannuation trustees will be required to have in place a retirement income strategy as outlined in a new position paper from 1 July 2022.