Australia

Conduct, Culture & Accountability

New Zealand Opens Up Robo-Advisory Market

By Manesh Samtani | 26/02/2018

Applicants will need to demonstrate capability and competency to provide robo-advice while ensuring consumer protection.

Supervision & Enforcement

Australian Banks’ Bill for Dodgy Financial Advice Hits $40mn

By Garima Chitkara | 22/02/2018

Australian banks paid an additional $16.7mn to compensate customers affected by “non-compliant” financial advice between 2009 and 2015.

Market Abuse

New Zealand Regulator Flags Market Misconduct

By Garima Chitkara | 22/02/2018

Report outlines enforcement actions on market manipulation against Milford Asset Management trader, investigation into trading at Goldman Sachs, other cases of misconduct.

Capital Adequacy

APRA Capital Framework Revisions Credit Positive for Banks – Moody’s

By Editors | 20/02/2018

Higher risk weightings for higher-risk residential mortgages will improve the alignment of capital to risk and better reflect their sensitivity to economic cycles, says Moody’s.

Market Abuse

Australian Sell-side Research Rules Threaten IPO Bonanza

By Bradley Maclean | 19/02/2018

Guidance on sell-side research could disappoint investment bankers who expected a strong year for new listings.

Structural Regulation

ASIC Publishes Credit Rating Agency Review

By Garima Chitkara | 18/02/2018

Credit ratings agencies found lacking on compliance testing and board reporting.

Conduct, Culture & Accountability

Australia Creates New Financial Complaints Body

By Editors | 16/02/2018

New body merges three existing complaints authorities; will streamline complaints process and quicken dispute resolution for customers.

Capital Adequacy

Australia Proposes Bank Capital Framework Revisions

By Samuel Riding | 14/02/2018

APRA does not expect new rules to extend banks’ capital requirements beyond ‘unquestionably strong’ level set out last July.

Payments & Settlements

Australia Launches Real Time Payments Platform

By Manesh Samtani | 14/02/2018

New Payments Platform enables instant transfers between accounts at different financial institutions, at “any time of day, any day of the year.”