Australia

AML / KYC

APAC Regulators Driving Digital Transformation

By Rachel Woolley | 16/07/2020

The pandemic has made it abundantly clear that digital transformation is no longer optional, says Fenergo’s Rachel Woolley.

Enforcement

ASIC’s Loss to Westpac is Terrible for Everyone

By Andy Schmulow | 11/07/2020

Despite its recent Federal Court loss, ASIC was right to appeal the dismissal of its responsible lending case against Westpac, says bank conduct specialist Dr Andy Schmulow.

Enforcement

ASIC Consults on Second Use of Product Intervention Power

By Editors | 10/07/2020

ASIC names BHF Solutions and its associate, Cigno, as two companies that enter into high-cost continuing credit contracts with retail customers without a credit licence.

Capital / Liquidity

APRA Outlines Expectations on Deferred Loan Management

By Editors | 09/07/2020

Deputy Chair John Lonsdale expects many banks will require an uplift in capabilities, processes and oversight to meet APRA’s expectations.

Securities / Derivatives

ASIC Directs Listed Firms to Disclose Covid-19 Impacts

By Editors | 09/07/2020

Firms should “tell the story” of how their businesses are impacted by the Covid-19 pandemic, including support and assistance received from government, lenders, landlords and others.

Capital / Liquidity

APRA Extends Regulatory Approach For Covid-19 Loan Deferrals

By Editors | 08/07/2020

APRA will also allow banks to treat loans restructured by 31 March 2021 as ‘performing’ for capital and regulatory reporting purposes.

Enforcement

ASIC Penalises Credit Suisse for Breaching Trading Rules

By Editors | 05/07/2020

Credit Suisse did not match client orders for on-market buy-backs on an order book as is required by ASIC’s market integrity rules.

Securities / Derivatives

Nearly 500,000 Australians Deplete Retirement Savings

By Editors | 05/07/2020

Industry Super Australia estimates that 480,000 Australians have wiped out their superannuation savings through the government’s early release scheme.

APRA Heatmap Having Desired Effect on Super Fees

By Editors | 02/07/2020

APRA is putting more than a dozen MySuper trustees on notice that it is considering enforcement action against those that continue to underperform on fees.