AUSTRALIA

Market Infrastructure

ASIC Review Finds Non-financial Risk Oversight Lacking

By Editors | 02/10/2019

ASIC says the boards of listed companies need to review their governance practices and accountability structures to ensure effective management of non-financial risks.

Fintech / Regtech

ACCC Selects Ten Firms to Test Open Banking Data-Sharing

By Editors | 01/10/2019

The ten companies will work with Australia’s big four banks to test the data-sharing ecosystem through open banking APIs in the lead up to open banking’s official launch in February.

Securities / Derivatives

FMA Issues Draft Guidance on Responsible Investment

By Editors | 30/09/2019

New Zealand’s FMA is seeking feedback on how responsible investment products should be described, labelled and promoted to investors.

Market Infrastructure

ASX Entities Need Stronger Legal Basis to Access Risk Capital

By Editors | 27/09/2019

In its latest assessment of ASX’s clearing and settlement facilities, the RBA says the facilities need to strengthen their legal basis to access general business risk capital.

Enforcement

New Zealand to Introduce New Conduct Oversight Regime

By Editors | 27/09/2019

New legislation to implement the regime is expected by year-end, empowering the FMA with stronger enforcement tools and the ability to impose higher penalties for conduct breaches.

Enforcement

RBNZ to Start Publishing Regulatory Breaches by Banks

By Editors | 25/09/2019

The RBNZ will start publishing banks’ regulatory breaches on its website next year in a bid to improve transparency and market discipline.

APRA Wants More Data on Lenders’ Property Exposures

By Editors | 25/09/2019

APRA is proposing to incorporate more detailed data on residential property exposures and new housing loan approvals in its QPEX statistical publication.

Enforcement

APRA’s Authority Potentially Undermined by IOOF Court Loss

By Editors | 25/09/2019

APRA initiated court action against IOOF seeking to ultimately disqualify its executives from the industry, but instead the court dismissed the regulator’s case.

AML / KYC

AUSTRAC Orders AML/CTF Audit at PayPal Australia

By Editors | 24/09/2019

AUSTRAC’s order follows a self-reported issue PayPal detected in its reporting system for international fund transfer instructions, which it said it was working to remediate.