Australia

Market Infrastructure

ASIC Probes Market Participants for Possible Best Execution Failures

By Manesh Samtani | 21/12/2020

ASIC is concerned Chi-X as an alternative venue did not see more trading activity during ASX’s November outage, as would be expected given participants’ best execution duty to clients.

Capital / Liquidity

APRA to Maintain Zero Percent CCyB Through to End-2021

By Editors | 21/12/2020

APRA cites “the risk of further stresses to come” as a determining factor, including the threat of new Covid-19 outbreaks and the withdrawal of financial assistance measures.

Securities / Derivatives

APRA Intensifies Scrutiny of Underperforming Super Funds

By Editors | 21/12/2020

APRA will issue notices requiring eight trustees to provide information on the actions being taken to address underperformance. Formal enforcement powers may be used “where appropriate”.

Fintech / Regtech

APRA Sets September Go-Live for New Data Collection Solution

By Editors | 21/12/2020

The timing of regulatory data reporting commencing in APRA Connect will vary by industry. Existing data collections for banks will continue through D2A for the time being.

Securities / Derivatives

FMA Clarifies Expectations on Use of Overseas Research in New Zealand

By Editors | 20/12/2020

Overseas firms without a New Zealand financial advice licence can supply research reports to licensed New Zealand firms, but not to retail clients.

ASIC Consults on Internal Dispute Resolution Reporting Requirements

By Editors | 20/12/2020

ASIC has adopted feedback on the data reporting requirements from an earlier consultation. Additional feedback is needed before it confirms the next steps for implementation.

APRA, ASIC Offer Guidance on Super Fund Obligations

By Editors | 17/12/2020

Super funds can capitalise on potential synergies when building systems and processes for their Member Outcomes obligations and Product design and distribution obligations.

Fintech / Regtech

Australia’s Domestic Payment Organisations Propose to Amalgamate

By Editors | 17/12/2020

Australia’s eftpos, BPAY Group and NPPA will be preserved as distinct operations under a single Board with a shared roadmap for innovation and investment.

Securities / Derivatives

FMA Issues Disclosure Framework for Green Investment Products

By Editors | 17/12/2020

The guidance sets out the type of disclosure the FMA expects from issuers of green bonds and other ‘responsible’ investment products.