Australia

AML / KYC

ASIC to Seek 10-year Sentences for Corporate Criminals

By Editors | 25/10/2017

Securities regulator says current maximum punishments are not sufficient as they don’t wipe out gains made from illicit activity.

Enforcement

New Zealand Exempts Personalised Robo-advice from Licensing Regime

By Editors | 19/10/2017

Providers still need to be pre-approved to offer financial advice; new rules formalising licensing of robo-advice per se expected in 2019.

AML / KYC

Australian Banks Want Fintechs to Pay for ‘Open Banking’

By Samuel Riding | 11/10/2017

Biggest lenders continue to frustrate efforts by authorities to increase competition and throw open door to banking disruptors.

Fintech / Regtech

Regulators Must Collectively Embrace 4th Industrial Revolution – ASIC

By Editors | 25/09/2017

Chairman Greg Medcraft expresses concern about regulatory fragmentation with increased use of technology, emergence of ICOs.

Crypto / Digital Assets

DLT Essential for Capital Market Participants to Meet Regulatory Obligations – JPX

By Samuel Riding | 21/09/2017

Market participants can’t meet diverse regulatory requirements without using DLT to share back office and post-trade functions, report suggests.

Enforcement

New Zealand Raises the Bar for Bank Outsourcing

By Editors | 21/09/2017

Largest banks will be required to have measures in place to survive the failure of a key service provider, according to new outsourcing policy.

AML / KYC

AUSTRAC to Lead Efforts to Combat IS Funding in Southeast Asia

By Editors | 18/09/2017

Australia hopes to cooperate with other jurisdictions in SE Asia amid concern IS will turn its attention to the region after Middle East setbacks.

Capital / Liquidity

APRA Delays Economic and Financial Statistics Reform

By Douglas Cheung | 13/09/2017

Banks should still devote time to correctly budget, resource and plan technology projects for EFS based on the new timelines.

Enforcement

ASIC Eyes Accountability for Algorithmic System Operators

By Samuel Riding | 11/09/2017

Regulator’s chairman says each algorithmic system must have designated individual responsible for design and outcomes, echoing new bank accountability regime.