Australia

Climate Risk

APRA to Develop Climate Risk Guidance, Assess ADI Vulnerability

By Editors | 25/02/2020

APRA will develop guidance on climate change financial risk, conduct a vulnerability assessment of ADIs, and include ESG in superannuation investment governance guidance.

Cloud & Infrastructure

Is RegTech Coming of Age in Australia?

By Stephen Scott | 25/02/2020

Regtech is not fintech, says Stephen Scott at Starling. While fintech firms look to regulators for permission, what most regtech firms require from regulators is their collaboration.

Clearing & Post-Trade

ASX Consults on Tranche 2 Rule Changes for CHESS Replacement

By Editors | 24/02/2020

ASX is consulting on operating rules relating to corporate actions, mFund and RTGS payment aspects for ‘Day 1’ implementation of CHESS Replacement system functionality.

Capital Adequacy

APRA Asks ADIs to Review, Improve Stress Testing Processes

By Editors | 24/02/2020

Larger ADIs have better stress testing governance practices and scenario development processes, and make better use of stress test results, than smaller institutions.

Conduct, Culture & Accountability

ASIC Drafts Guidance on New Mortgage Broker Best Interests Duty

By Editors | 22/02/2020

ASIC proposes mortgage brokers be required to identify what interests they or their related parties have, and to not provide credit assistance where it is not possible to prioritise consumer interests.

Conduct, Culture & Accountability

Australia: Preparing for the Financial Accountability Regime

By Manesh Samtani | 21/02/2020

An essential first step to prepare for the FAR is for organisations to clarify internal lines of accountability, says APRA’s Helen Rowell.

Conduct, Culture & Accountability

New Zealand Takes Step Towards New Financial Conduct Regime

By Editors | 19/02/2020

New legislation to establish an effective fair conduct regime for the financial sector has passed its first reading in New Zealand.

Custody & Infrastructure

AUSTRAC, Home Affairs Dept Highlight Benefits of Blockchain

By Editors | 18/02/2020

The Department of Home Affairs and AUSTRAC say blockchain has the potential to significantly reduce compliance costs and the regulatory burden imposed on reporting entities.

Conduct, Culture & Accountability

APRA, ASIC Welcome Reforms on Superannuation Regulation

By Editors | 17/02/2020

ASIC will be focused on conduct issues involving superannuation trustees, while APRA will be focused on prudential supervision of trustee activities.