AUSTRALIA

Market Infrastructure

Exploring APAC’s Emerging Data-Intensive Regulatory Environment

By Swati Kothari | 15/11/2019

APAC’s data intensive regulatory environment is making it increasingly important for banks to adopt a strategic data framework, say Swati Kothari and Jackielou Imperial at Wolters Kluwer.

Market Infrastructure

ASIC Offers Guidance to Help Companies Establish Whistleblower Policies

By Editors | 14/11/2019

ASIC is offering guidance to help companies and implement whistleblower policies. It will be a legal requirement to have a policy in place from 1 January.

APRA Seeks Standardised Quarterly Reporting Dates

By Editors | 13/11/2019

The proposed standardised due date is 35 calendar days after the last day of the reference quarter, which will create a 14 calendar day extension for credit unions and building societies.

Enforcement

AFCA Launches Consumer Complaint Monitoring Tool

By Garima Chitkara | 12/11/2019

Datacube will allow Australian consumers to see how financial institutions are responding to complaints brought to the one year-old consumer complaints body.

Market Infrastructure

APRA to Toughen Approach to Regulating Cyber Hygiene at Banks

By Editors | 11/11/2019

APRA has observed areas of common weakness, such as poor cyber hygiene, the lack of a comprehensive security patching regime and poor access management practices.

FMA New Zealand Apologises for Privacy Breach

By Editors | 09/11/2019

The FMA identified 27 instances where complaints documents were accessed by internet searches through a portal on its website. Of these, 6 contained personal information.

Market Infrastructure

APRA Launches Superannuation Data Transformation Project

By Editors | 08/11/2019

The initiative aims to drive better industry practices, enhance the consistency of reported data, and make it easier to compare fund and product performance.

AML / KYC

Australia Has an IFTI Problem

By Eric Knight | 08/11/2019

Australia’s approach to international payments needs to change, and reporting entities need to update their legacy systems for better reporting, say Eric Knight and Nick Armstrong.

AML / KYC

Fintel Alliance Is Critical to Financial Crime Fight: AUSTRAC

By Editors | 07/11/2019

The Fintel Alliance reveals its operational results in its annual report. A second report sets out financial indicators to help FIs detect and report child sexual exploitation.