Australia

Enforcement

Cyber Threats Top ASIC Agenda

By Samuel Riding | 19/03/2018

Australian securities regulator warns on ‘malicious cybercrime’; says surveillance of OTC markets will be another 2018 priority.

Enforcement

ASIC Mandates Banks’ Further Removal of Unfair Loans Terms

By Editors | 17/03/2018

New guidance ensures bank staff are held responsible for conduct and statements outside of formal contracts; removes borrower’s liability in the event of lender misconduct.

Enforcement

Australia’s Royal Commission Hears Bribery Allegations

By Garima Chitkara | 15/03/2018

NAB staff allegedly falsified documents to achieve home loan targets, branch managers colluded with loan introducers to manipulate incentive schemes.

Capital / Liquidity

Basel Committee Publishes Follow-up Reports on Basel III Implementation

By Manesh Samtani | 13/03/2018

The Committee also published an assessment handbook and self-assessment questionnaire to help member jurisdictions prepare for future RCAP assessments.

AML / KYC

Credit Reporting Regime Must Be Fair: ABA

By Editors | 09/03/2018

Banking association says new regime needs a way to flag special circumstances in credit histories to prevent discrimination against customers.

Market Infrastructure

SGX, NZX Sign MoU on Market Development, Information Exchange

By Garima Chitkara | 08/03/2018

MoU aimed at promoting market development initiatives in Asia Pacific region, including for derivatives, secondary listings and ETFs.

Market Infrastructure

APRA Takes Aim at Cyber Attacks with New Proposed Standard

By Garima Chitkara | 08/03/2018

New measures would require firms to have clearly defined information-security related roles, capabilities and controls to boost their ability to repel cyber criminals and respond to breaches effectively.

Enforcement

ASIC Consults on Oversight of New Financial Complaints Body

By Editors | 06/03/2018

The regulator seeks feedback on whether firms need transitional relief from dispute resolution disclosure obligations in the lead up to the new body’s commencement in November.

Capital / Liquidity

APRA Mulls Removal of Mortgage Lending Cap

By Editors | 06/03/2018

Removing the 10 percent growth cap would enable banks to increase mortgage lending, ease mortgage rates for investors and boost competition in the sector.