Australia

Securities / Derivatives

FMA, NZX Announce Support Measures for Listed Companies

By Editors | 19/03/2020

The measures include higher capital raising capacity for issuers, a two month extension for financial reporting, and delays for some regulatory work.

Enforcement

Australia: SocGen Securities Unit Charged for Client Money Rule Breaches

By Editors | 19/03/2020

Societe Generale Securities Australia self-reported three matters over 2017 and 2018, and has completed all remediation actions in relation to its operational set-up.

Enforcement

AMP Units Pay ASIC Penalties for Trade Reporting Failures

By Editors | 18/03/2020

The AMP entities failed to report information about over 1,000 derivatives transactions and to correctly report collateral information about over 19,000 transactions over several years.

RBNZ to Delay Work on Regulatory Initiatives

By Editors | 18/03/2020

The move is aimed at reducing the regulatory burden on FIs, freeing up RBNZ and industry resources, and supporting the economy amid the coronavirus outbreak.

New Zealand Announces NZ$12.1b Economic Stimulus Package

By Editors | 17/03/2020

New Zealand has announced a NZ$12.1bn economic rescue package in response to the novel coronavirus outbreak.

Enforcement

ASIC Launches Civil Proceedings Against Commonwealth Bank

By Editors | 17/03/2020

CBA said it intends to admit the allegations ASIC has made in each of the two cases, and does not intend to defend against the proceedings.

Market Infrastructure

RBA Mulls First-Ever Quantitative Easing Programme

By Editors | 16/03/2020

The RBA says it stands ready to buy government bonds in the secondary market, while APRA and ASIC are tasked with ‘adjusting’ regulatory requirements to boost credit availability.

Securities / Derivatives

ASIC Directs Equity Market Participants to Limit Trading

By Editors | 16/03/2020

The move is a response to a particularly large increase in trades executed on Friday, largely attributable to algorithmic and high frequency trading.

Capital / Liquidity

RBNZ Defers Implementation of New Capital Framework

By Editors | 16/03/2020

The deferment will enable banks to supply up to around NZ$47bn in additional lending to households and businesses, the RBNZ estimates. The OCR has also been cut to 0.25%.