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Enforcement
ASIC Bans Sale of Binary Options to Retail Clients
By Editors | 05/04/2021
The binary options ban will take effect from 3 May. A separate order imposing conditions on the issue and distribution of CFDs to retail clients has taken effect on 29 March.
AML / KYC
Australia Lags Regional Peers on DNFBP Regulation: Report
By Manesh Samtani | 03/04/2021
Australia is sending a message to financial criminals around the world that its lawyers, accountants and property market are open for business.
Capital / Liquidity
APRA Raises Macquarie’s Capital, Liquidity Requirements
By Editors | 02/04/2021
Macquarie is said to have incorrectly treated specific intra-group funding arrangements for the purposes of calculating capital and related entity exposure metrics.
Securities / Derivatives
ASX Finalises, Defers Listing Rule Changes to June
By Editors | 01/04/2021
The listing rule changes deal with online forms, notification of security issues and corporate action timetables.
Fintech / Regtech
ACCC Gives NAB Green Light to Acquire Neobank 86400
By Ranamita Chakraborty | 01/04/2021
The ACCC’s decision is based on an assessment that the NAB acquisition is “unlikely to substantially lessen competition” in the market.
Capital / Liquidity
RBNZ Eases Restrictions on Bank Dividend Payouts
By Editors | 31/03/2021
The 50% dividend restriction will remain in place until 1 July 2022, at which point the RBNZ will seek to normalise the dividend settings.
AML / KYC
AUSTRAC Publishes Regulatory Guides on Strengthen AML Controls
By Editors | 31/03/2021
The regulatory gives cover governance, risk assessments, customer due diligence, IFTIs reporting, and correspondent banking relationships.
Enforcement
ASIC Reassesses Tools for Enforcing Disclosure Rules
By Ranamita Chakraborty | 30/03/2021
ASIC is assessing how changes to continuous disclosure laws will affect the practicality of issuing infringement notices.
ESG / Sustainability
RBNZ Makes Submission to Climate Change Commission
By Ranamita Chakraborty | 29/03/2021
The RBNZ emphasised the need to take a collective approach and for the firms it regulates to pay close attention to climate-related risks.
ASIC Makes Legislative Instruments on Adviser Requirements
By Ranamita Chakraborty | 29/03/2021
ASIC has introduced legislative instruments covering advice fee consents and lack of independence disclosure requirements.
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