AUSTRALIA

Enforcement

Sydney Deutsche Bank Trader Convicted for Falsifying Trades

By Editors | 13/02/2019

A former FX options and futures trader has received a 2-year suspended sentence for falsifying entries in Deutsche Bank’s internal records.

Enforcement

APRA Issues Update on Implementation of Hayne Recommendations

By Editors | 11/02/2019

APRA details the work already underway to implement the Recommendations and confirms it is examining the 12 matters referred by the Royal Commission.

Mortgage Brokers Push Back Against Hayne Recommendations

By Editors | 08/02/2019

A blanket ban on commissions as suggested by Kenneth Hayne would have a “devastating effect” on mortgage broking industry, says MFAA CEO Mike Felton.

Market Infrastructure

ASIC ‘Well-Placed’ to Manage Impacts of No-Deal Brexit

By Editors | 08/02/2019

ASIC says it is carefully monitoring developments and has been liaising closely with UK and Australian authorities to plan for potential Brexit-related impacts.

Enforcement

NAB Chief Steps Down Amid Royal Commission Criticism

By Editors | 07/02/2019

Commissioner Hayne said in his Final Report that NAB “stands apart” from the other major banks and questioned whether its senior leadership was capable of reforming the bank’s culture.

Crypto / Digital Assets

Australia Solicits Comments on Regulatory Framework for ICOs

By Editors | 06/02/2019

A bespoke framework for ICOs can provide regulatory clarity and encourage economic activity, but the costs and benefits must be weighed, says a paper from Australia’s Treasury.

AML / KYC

Complying with AML/CTF Obligations in Australia

By Sophie Gerber | 06/02/2019

Sophie Grace director Sophie Gerber lays out the obligations reporting entities must adhere to for compliance with AML/CTF rules in Australia.

Enforcement

Royal Commission Final Report Packs a Powerful Punch

By Matthew Chan | 04/02/2019

The Final Report on Australia’s Royal Commission packs a swift and powerful punch which may well be felt for some time, says public policy specialist Matthew Chan.

Capital / Liquidity

APRA Maintains Zero CCyB in Favour of Targeting Lending Standards

By Editors | 30/01/2019

APRA has maintained the countercyclical capital buffer rate at zero percent, focusing instead on targeted measures to improve eroded bank lending standards.