Australia

Securities / Derivatives

UPDATED – ASIC, ASX Offer Relief from Capital Raising Rules

By Editors | 01/04/2020

The relief applies to listed entities looking to offer placements, rights issues and share purchase plans as a way to urgently raise capital to mitigate the effects of Covid-19.

Securities / Derivatives

NZX Subsidiary to Assume Frontline Regulatory Functions

By Editors | 01/04/2020

The new subsidiary will be structurally separate from NZX’s commercial and operational activities and governed by a largely independent board.

RBNZ Launches New Liquidity Facility for Banks

By Editors | 31/03/2020

The facility allows banks to swap corporate paper and other asset-backed securities for cash. Banks are offering six-month deferrals on residential mortgage repayments.

Australian Banks Extend Loan Deferrals to More Businesses

By Editors | 31/03/2020

The ABA’s small business relief package will be extended to larger businesses, including commercial property landlords who agree not to terminate leases or evict tenants.

AML / KYC

RBNZ, FMA Offer AML/CFT Guidance During Covid-19 Lockdown

By Editors | 30/03/2020

Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.

Capital / Liquidity

APRA Defers Basel III Capital Reforms by One Year

By Editors | 30/03/2020

The move will allow ADIs to dedicate time and resources to maintaining their operations and supporting customers, APRA says.

New Zealand Delays New Financial Advice Regime

By Editors | 27/03/2020

The new regime will be deferred until at least March 2021, allowing financial advisers to focus on helping their clients, staff and families during “this difficult time”, the FMA says.

Australia: Super Funds Seek Liquidity Backstop Facility

By Editors | 27/03/2020

The government will allow individuals in financial stress to access superannuation savings, but may have underestimated the ability of super funds to meet withdrawals.

Market Infrastructure

ASX to Delay Implementation of CHESS Replacement

By Editors | 25/03/2020

ASX will launch a public consultation in June on a new timetable for its CHESS replacement project, amid uncertainty created by the coronavirus pandemic.