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Trading & Investment
ASIC Warns OTC Derivatives Platforms on Overseas Services
By Editors | 12/04/2019
OTC derivatives platforms offering services to foreign retail investors may be breaking overseas laws, which may be inconsistent with local obligations to provide services ‘efficiently, honestly and fairly’.
Structural Regulation
US SEC Recognises NZX as Designated Offshore Market
By Editors | 11/04/2019
NZX participants will no longer be required to maintain a reasonable belief that clients are non-US domiciled persons in order to trade on their behalf.
Conduct, Culture & Accountability
New Zealand Financial Services Bill Puts Client Interests First
By Editors | 10/04/2019
New Zealand has passed new legislation enabling a new framework for regulating financial advice. The new regime will come into effect in the first half of 2020.
Conduct, Culture & Accountability
Australia Passes Law Forcing Financial Firms to Cooperate with AFCA
By Editors | 10/04/2019
A new law has made it mandatory for all financial firms to fully cooperate with AFCA to resolve consumer and small business disputes.
Payments & Settlements
Australia Consults on Payments System Migration to ISO 20022
By Editors | 10/04/2019
The RBA and Australian Payments Council have issued a consultation to help the industry agree on key strategic decisions for migrating the payment system to ISO 20022 by end-2024.
Structural Regulation
FCA, ASIC Ensure Post-Brexit Continuity, Cooperation
By Editors | 08/04/2019
The FCA and ASIC have signed MoUs on trade repositories and alternative investment funds, and adopted existing equivalence decisions on their supervisory and regulatory regimes.
Data Privacy
ACCC Publishes Draft Rules for Open Banking Data Sharing
By Editors | 08/04/2019
The draft rules provide detail and guidance as to how the Consumer Data Right will work in the banking sector starting in July this year.
Capital Adequacy
Fitch Warns of Downgrade Amid RBNZ Bank Capital Review
By Manesh Samtani | 08/04/2019
Fitch Ratings says its assessment of New Zealand’s largest banks could change if capital requirements become so onerous as to cause their Australian parents to divest.
Conduct, Culture & Accountability
ASIC, APRA Granted New Intervention Powers
By Editors | 05/04/2019
ASIC can intervene where financial and credit products put consumers at risk; APRA can intervene to prevent harm to superannuation members.
Conduct, Culture & Accountability
Australia Budget Delivers Additional Funding for APRA, ASIC
By Editors | 04/04/2019
APRA and ASIC will get more than A$550mn in funding to enhance their effectiveness in addressing financial sector misconduct.
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