Australia

Enforcement

Australia: Members Equity Bank Facing 62 Criminal Charges

By Editors | 15/09/2021

ASIC says ME Bank made false or misleading representations about interest rates and repayment amounts to home loan clients.

Market Infrastructure

Australia Appoints Inaugural Members to FRAA

By Editors | 15/09/2021

Nicholas Moore, ex-CEO of Macquarie Group, has been appointed as Chair of the Financial Regulator Assessment Authority, which will oversee ASIC and APRA.

Market Infrastructure

ACCC Authorises Amalgamation of BPAY, eftpos, NPPA

By Editors | 15/09/2021

The ACCC said the merger will enable the three payment schemes to coordinate investment proposals, avoid duplicative spending, and likely result in public benefit.

AML / KYC

NZ Court Fines CLSA Premium NZ for AML/CFT Breaches

By Sanday Chongo Kabange | 13/09/2021

The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ’s relationship with high net worth customers.

AML / KYC

NAB Examining Data on 9m Customers to Plug AML, KYC Gaps

By Ranamita Chakraborty | 13/09/2021

Chief executive Ross McEwan outlined NAB’s work to update KYC information for all its customers as part of efforts to meet its AML obligations.

Market Infrastructure

APRA’s New Data Collection Solution Goes Live

By Editors | 12/09/2021

Banks have to maintain all BEAR information including accountability statements and maps in APRA Connect from this month.

Market Infrastructure

New Zealand Banks ANZ, Kiwibank Hit with DDoS Attacks

By Editors | 12/09/2021

ANZ said it had recovered on Thursday but online services were intermittent on Friday. Kiwibank was still working to get its systems back up through Sunday.

Capital / Liquidity

APRA, RBA to Discontinue Committed Liquidity Facility

By Editors | 10/09/2021

APRA and the RBA consider there to be sufficient HQLA for banks to meet LCR requirements and for the foreseeable future without the need to utilise the CLF.

Securities / Derivatives

Australian Carbon Exchange Expected to Launch in 2023

By Editors | 10/09/2021

Australia’s Clean Energy Regulator has invited 13 companies including ASX to participate in an RFP to develop an exchange-traded market and registry for carbon offset units.