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Capital Adequacy
Using Capital Buffers Not As Easy As Hoped: APRA Chair
By Editors | 28/05/2020
Market expectations of bank capital levels and the knowledge that capital will eventually need to be rebuilt make it difficult for banks to dip into their buffers.
Structural Regulation
Australia Eases Disclosure Rules to Prevent Opportunistic Class Actions
By Editors | 27/05/2020
Heightened uncertainty amid the Covid-19 crisis exposes companies to the threat of opportunistic class actions if their earnings forecasts are found to be inaccurate.
Anti-Money Laundering
Are Criminals Winning at Covid-19? Not Without a Fight
By Editors | 27/05/2020
Advances in digital identification technology can mitigate the unpleasant rise in pandemic-related financial crime. A top regulator, banker and lawyer join forces with Refinitiv to discuss how.
Conduct, Culture & Accountability
APRA Blamed for Scrapped Class Action Against IOOF
By Editors | 26/05/2020
A Quinn Emanuel class action “was no longer in the interests of group members to continue” following last year’s dismissal of APRA’s lawsuit against IOOF.
Data Privacy
ACCC Launches Consumer Data Right Accreditation Platform
By Editors | 26/05/2020
The platform serves as a trusted environment where approved participants can share encrypted data, and provides a portal through which banks and fintechs can apply to be accredited.
Payments & Settlements
RBA Invites Tenders for Transaction Processing and Settlement System
By Editors | 26/05/2020
The new system should be able to process SWIFT FIN messaging under ISO 20022 as well as the existing SWIFT MT throughout a three-year coexistence period.
Structural Regulation
Australia to Regulate Litigation Funders as AFS Licencees
By Editors | 25/05/2020
In three months, litigation funders will no longer be exempt from having to hold an AFS Licence and being categorised as managed investment schemes.
Structural Regulation
More Protectionist Regulatory Intervention on the Cards, Experts Warn
By Daniel Flatt | 25/05/2020
The raft of government measures designed to stave off corporate raiders is unlikely to abate soon, compliance practitioners say.
Clearing & Post-Trade
ASX Responds on Tranche 1 Rule Changes for CHESS Replacement
By Editors | 25/05/2020
ASX says it will not be mandating settlement locks for CHESS holdings, given the broad support stakeholders for this approach.
Conduct, Culture & Accountability
Australian Treasury Bans ‘Conflicted’ Commissions Paid on LICs
By Editors | 24/05/2020
Fund managers will be barred from paying fees to financial advisers and stockbrokers for selling listed investment companies and trusts.
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