Australia

NZ to Finalise FI Conduct Guide in 2017

By Samuel Riding | 14/12/2016

Guide not a checklist or legal requirement, but could be used as reference in FMA inquiries.

Australia Ups Accountability of Product Issuers, Distributors

By Samuel Riding | 13/12/2016

New rules state products must only be offered to customers who need them.

AML / KYC

NZ Central Bank Warns Credit Union on AML/ CTF

By Samuel Riding | 13/12/2016

RBNZ says Aotearoa union failed to conduct due diligence, monitor accounts.

AML / KYC

NZ Regulator Pinpoints AML/CTF Weaknesses

By Samuel Riding | 09/12/2016

FMA review of 800 firms finds inadequate staff training and variations in due diligence

ASIC Issues Licensing Report

By Samuel Riding | 07/12/2016

Regulator concerned by misleading applications, overseas misrepresentation by OTC derivative licensees.

Market Infrastructure

ASX to Take Control of BBSW

By Samuel Riding | 02/12/2016

Financial Markets Association to hand over reins as ASIC cases continue.

Australian Banks to Conduct ‘Cross-selling’ Audit

By Samuel Riding | 30/11/2016

ASIC has written to 8 financial institutions requesting audit; also looking at financial advice businesses.

Securities / Derivatives

Updated – ANZ, Macquarie to Pay $11mn for ‘Cartel Conduct’

By Samuel Riding | 27/11/2016

Two banks admit cartel conduct in trading MYR forex contracts out of Singapore in 2011.,

Capital / Liquidity

Australia Confirms No Additional Intraday Liquidity Reporting

By Samuel Riding | 25/11/2016

APRA says liquidity already monitored and ‘well managed’ by central bank protocols.