Australia

Securities / Derivatives

ASIC Defers Super Fund Requirement to Disclose Portfolio Holdings

By Editors | 15/12/2020

The one-year deferral is necessary as supporting regulations have not yet been made. ASIC encourages super funds to voluntarily disclose portfolio holdings.

Enforcement

ASIC Sues Three Firms For Illicitly Offering FX Margin Trading

By Sanday Chongo Kabange | 15/12/2020

ASIC alleges Union Standard provided trading in margin FX products to clients in China in circumstances where it was illegal for Chinese residents to deal or trade in those products.

Capital / Liquidity

APRA Removes Bank, Insurer Restrictions on Dividend Payouts

By Editors | 15/12/2020

Even in a ‘Severe Downside’ scenario, the CET1 capital ratio of the banking system would remain well above the 4.5 percent minimum capital requirement.

AML / KYC

AUSTRAC Releases Risk Assessment of Junket Tour Operators

By Sanday Chongo Kabange | 15/12/2020

AUSTRAC expects casinos to use the risk assessment to protect their businesses and communities from criminal threats such as money laundering.

ASIC Warns Against Noncompliance with Conflicted Remuneration Ban

By Editors | 14/12/2020

ASIC issued updates to RG 246 that would reflect the end grandfathering of conflicted remuneration for financial product advice from 1 January 2021.

Australia to Further Streamline Financial Advice Regulations

By Editors | 14/12/2020

Streamlining the number of bodies involved in financial adviser oversight will reduce complexity and add value for retail investors, said SAFAA CEO Judith Fox.

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.