Australia

Capital / Liquidity

APRA to Align Prudential Standards with IAIS ComFrame

By Editors | 13/10/2020

APRA has designated QBE Insurance Group as an internationally active insurance group, which will promote coordination with other international supervisors.

AML / KYC

AUSTRAC Publishes Financial Crime Guide on Illegal Wildlife Trade

By Manesh Samtani | 11/10/2020

The guide offers indicators FIs can use in profiling and transaction monitoring to target, identify and stop financial transactions associated with illegal wildlife trafficking.

Securities / Derivatives

Australia to Assist Cambodia in Capital Markets Development

By Editors | 11/10/2020

The Australian government will provide technical assistance to develop a regulatory framework and market capacity for investment in infrastructure.

Securities / Derivatives

Australia Federal Budget Delivers Super Fund Accountability

By Editors | 09/10/2020

Super funds will be forced to enhance disclosures on fees and performance. Consistently underperforming super funds will be prohibited from receiving new members.

Securities / Derivatives

ASX Proposes Auctions Mechanism to Handle Futures Participant Defaults

By Editors | 08/10/2020

ASX proposes rule amendments to allow it to auction off exchange-traded derivatives positions in the event that a futures clearing participant defaults.

Market Infrastructure

APRA Commences Roll-out of New Risk Supervision Model

By Manesh Samtani | 06/10/2020

The move to the new Supervision Risk and Intensity Model could lead to a change in the intensity of supervision that APRA applies for some entities.

Enforcement

Court Orders ANZ To Pay A$10m Penalty Over Unlawful Fees

By Editors | 06/10/2020

The case, launched by ASIC in July 2019, related to periodic payment fees ANZ was not entitled to charge under its terms and conditions.

Enforcement

ASIC Bans Former Fixed Income Broker for Ten Years

By Editors | 05/10/2020

The ex-broker charged unpermitted spreads and traded at prices other than the agreed independent valuation on transactions entered on behalf of referred clients.

Fintech / Regtech

ACCC Expands Intermediary Access to CDR Ecosystem

By Sanday Chongo Kabange | 04/10/2020

These amended rules will facilitate greater participation in the CDR by fintech firms and reduce the time and cost needed for accredited firms to enter the ecosystem.