AUSTRALIA

    AML / KYC

    ABA Sets up Pay and Commissions Review

    By Samuel Riding | 13/07/2016

    Review will also look at payments to third parties including mortgage brokers.

    ASIC Details Alleged NAB Rate-rigging

    By Samuel Riding | 11/07/2016

    Australian banks should improve compliance as series of scandals emerges, regulator says.

    AML / KYC

    ABA Launches Code of Practice Review

    By Samuel Riding | 08/07/2016

    Bankers’ association to revamp guidelines for treatment of individuals and small businesses.

    ASIC Warns on Unlicensed OTC

    By Samuel Riding | 07/07/2016

    Securities regulator has contacted 40 unlicensed operators, 21 have taken remedial measures.

    Market Infrastructure

    Concentration Risk Could Threaten Banking Collapse – APRA

    By Samuel Riding | 27/06/2016

    Commonwealth Bank, Westpac, National Australia Bank and ANZ together have 80% market share.

    Market Infrastructure

    Australia Stress-testing Building Societies, Credit Unions

    By Samuel Riding | 24/06/2016

    APRA test hypothesises -4% GDP, 13% rise in unemployment, 40% drop in house prices.

    Market Infrastructure

    Higher Capital Requirements Have Minimal Economic Impact – Report

    By Samuel Riding | 23/06/2016

    Think tank says Australian GDP would take only 0.01ppt hit from 100bp hike in capital requirement.

    AML / KYC

    ASIC Flags OTC Derivatives Compliance Failures

    By Samuel Riding | 21/06/2016

    More than 70% of firms authorised to sell retail OTC derivatives said failing to meet requirements.

    Market Infrastructure

    ASIC Confirms ASX Meets Regulatory Obligations

    By Samuel Riding | 15/06/2016

    Conclusion based on surveillance assessments and engagement with HK, Singapore regulators.

    AML / KYC

    ASIC Starts 1st Civil Action on Best Interests Rule

    By Samuel Riding | 10/06/2016

    Regulator says financial adviser breached ‘best interests duty’ in selling life risk insurance.

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