Australia

Payments & Settlements

RBNZ Proposes Enhanced Oversight Role in Cash System

By Editors | 04/10/2019

In a new consultation paper, the RBNZ proposes legislative changes that would allow it to take on a more active monitoring and coordination role in the cash system.

Capital Adequacy

RBNZ to Issue Final Decisions on Bank Capital in December

By Editors | 04/10/2019

RBNZ deputy governor Geoff Bascand says the central bank will review the amount of capital, what form it takes, and the allowed transition period before final decisions are made.

Structural Regulation

Australia Commissions Review of Retirement Income System

By Editors | 02/10/2019

The review has sparked concerns about whether superannuation could be made voluntary, amid guarantee increases until 2025 that may end up squeezing workers’ wages.

Conduct, Culture & Accountability

NAB Sets Aside Additional Remediation Provisions

By Editors | 02/10/2019

Combined with what has already been set aside, the new A$832mn in provisions for customer-related remediation brings total provisioning to over A$2bn.

Operational Risk

ASIC Review Finds Non-financial Risk Oversight Lacking

By Editors | 02/10/2019

ASIC says the boards of listed companies need to review their governance practices and accountability structures to ensure effective management of non-financial risks.

Data Privacy

ACCC Selects Ten Firms to Test Open Banking Data-Sharing

By Editors | 01/10/2019

The ten companies will work with Australia’s big four banks to test the data-sharing ecosystem through open banking APIs in the lead up to open banking’s official launch in February.

Reporting & Disclosures

FMA Issues Draft Guidance on Responsible Investment

By Editors | 30/09/2019

New Zealand’s FMA is seeking feedback on how responsible investment products should be described, labelled and promoted to investors.

Clearing & Post-Trade

ASX Entities Need Stronger Legal Basis to Access Risk Capital

By Editors | 27/09/2019

In its latest assessment of ASX’s clearing and settlement facilities, the RBA says the facilities need to strengthen their legal basis to access general business risk capital.

Conduct, Culture & Accountability

New Zealand to Introduce New Conduct Oversight Regime

By Editors | 27/09/2019

New legislation to implement the regime is expected by year-end, empowering the FMA with stronger enforcement tools and the ability to impose higher penalties for conduct breaches.