AUSTRALIA

ESG / Sustainability

ASIC Publishes Findings from Anti-Greenwashing Surveillance

By Sanday Chongo Kabange | 26/08/2024

ASIC published findings, recommendations and good practice examples from its surveillance activities during the financial year 2023–2024.

Capital / Liquidity

APRA Increases Capital Add-on Imposed on ANZ Bank

By Sanday Chongo Kabange | 23/08/2024

APRA said several issues emerging in ANZ’s markets business have increased its “longstanding concerns” about the bank’s non-financial risk management.

Enforcement

NZ Court Fines Ex-Insurer for Disclosure Breaches

By Sanday Chongo Kabange | 23/08/2024

The High Court ordered former CBLC Managing Director Peter Harris to pay NZD 1.4 million for breaching financial market rules in a case brought by the FMA.

APRA Finalises Cross-industry Standard on Defined Terms

By Sanday Chongo Kabange | 23/08/2024

The new standard, CPS 001, will act as a central glossary for ADIs and insurers to promote more consistent definitions going forward.

Big Picture

Australian Mutual Banks Face Consolidation Pressure: S&P Global Ratings

By Manesh Samtani | 22/08/2024

S&P Global Ratings suggests that as many as 40 mutual banks could disappear in the coming years, leaving fewer than 10 significant players in the market.

Capital / Liquidity

NZ Government Releases Final Report on Banking Competition

By Ranamita Chakraborty | 22/08/2024

The government said it will act on all 14 recommendations in the report, including measures to speed up open banking implementation.

ESG / Sustainability

ASX Commences Trading in New Natural Gas Futures Contract

By Sanday Chongo Kabange | 21/08/2024

ASX said the Wallumbilla Natural Gas Futures contract will help investors hedge energy transition risks and more confidently invest in decarbonisation initiatives.

Market Infrastructure

ASIC Finds Lack of Maturity in Banks’ Scam Strategies

By Sanday Chongo Kabange | 21/08/2024

ASIC conducted a review of scam strategies and governance at 15 non-big-four banks, finding a “less mature approach” than expected.

Capital / Liquidity

RBNZ Consults Additional Standards for New DTA Regime

By Sanday Chongo Kabange | 21/08/2024

RBNZ is consulting on standards covering areas such as governance, lending, risk management and operational resilience.