Australia

    ASIC Provides Guidance on Product Design and Distribution Obligations

    By Editors | 14/12/2020

    The new regulatory guide addresses demand from industry for ASIC guidance as it prepares for the obligations to take effect on 5 October 2021.

    Securities / Derivatives

    NZ RegCo Launches as NZX’s Listed Markets Regulator

    By Editors | 13/12/2020

    The now stand-alone, independently-governed agency will perform all of NZX’s frontline regulatory functions, with its Board providing support.

    APRA Directs Financial Firms to Use New D2A for Reporting From April

    By Editors | 13/12/2020

    APRA says entities should upgrade all instances of D2A between now and 31 March 2021. All submissions after 31 March 2021 must be made using D2A version 6.

    AML / KYC

    Australia: AML Bill Passes Senate, DNFBP Amendment Rejected

    By Manesh Samtani | 13/12/2020

    An AML bill introduced last October has passed the Senate but without last month’s amendment to include real estate agents, accountants, lawyers.

    Capital / Liquidity

    APRA Publishes New FAQs for ADIs on Liquidity

    By Editors | 13/12/2020

    APRA has published new FAQs for ADIs on minimum liquidity holdings, mortgage warehouse facilities and calculation of collateral outflows.

    Market Infrastructure

    APRA Publishes Findings From Big Banks’ BEAR Implementation Review

    By Editors | 11/12/2020

    CBA had the most developed approach to implement the BEAR, benefitting from the execution of its remedial action plan associated with the Prudential Inquiry.

    Capital / Liquidity

    APRA Lowers Allianz Capital Charge to Reflect Better Risk Governance

    By Editors | 10/12/2020

    In recognition of progress to address risk governance issues, APRA has reduced Allianz’s additional capital requirement from A$250mn to A$150mn.

    Capital / Liquidity

    APRA Finalises Updates to Bank Liquidity Reporting Rules

    By Editors | 10/12/2020

    APRA has extended the due dates for a number of quarterly reporting forms by 7 calendar days, in line with a November 2019 consultation.

    Market Infrastructure

    Australian Regulators Launch Cyber Resilience Testing Framework

    By Manesh Samtani | 09/12/2020

    The ‘CORIE’ framework will initially run as an industry pilot programme, consisting of a small number of systemically important FIs.

    AML / KYC

    AUSTRAC Targets Disability Insurance Fraud in New Guidance

    By Editors | 09/12/2020

    A new financial crime guide details the indicators that can help financial services firms identify when NDIS fraud may be taking place.

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