AUSTRALIA

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    Capital / Liquidity

    RBNZ Implements ‘Dual Reporting’ Requirement for IRB Banks

    By Manesh Samtani | 27/06/2024

    Dual reporting requires banks that use internal models to calculate credit risk capital to also disclose calculations using the ‘standardised approach’.

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    Market Infrastructure

    RBA Eases Regulatory Burden for Small Securities Settlement Facilities

    By Sanday Chongo Kabange | 27/06/2024

    The RBA has expanded exemptions to accommodate the potential emergence of new, technologically innovative securities settlement facilities.

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    Fintech / Regtech

    ASIC Issues Guidance on Communications Surveillance

    By Editors | 26/06/2024

    A new information sheet calls for market intermediaries to ensure effective monitoring and supervision of business communications.

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    Enforcement

    ASIC Fines Ascot Securities for Failure to Detect Suspicious Trades 

    By Editors | 21/06/2024

    Ascot Securities should have suspected a client’s orders were manipulative, ASIC’s Markets Disciplinary Panel said.

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    NZ FMA Issues New Auditor Regulation and Oversight Plan

    By Sanday Chongo Kabange | 21/06/2024

    By ensuring a high standard of auditing we aim to increase investor confidence in the quality of the audited financial statements of reporting entities, the FMA said.

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    Super Funds Have More Work to Do on Valuation Governance: APRA

    By Editors | 21/06/2024

    APRA wrote to super fund trustees asking them to improve their valuation governance practices for unlisted assets, as required by SPS 530.

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    New Zealand Working to Improve KiwiSaver Scheme

    By Editors | 20/06/2024

    Recommendations for improving KiwiSaver include the introduction of a “default” contribution rate that is higher than the minimum.

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    Australia to Improve Outcomes for Home Loan Borrowers

    By Editors | 20/06/2024

    Reforms will make it easier to switch to better mortgage deals. A new review was launched to find ways to support additional competition in the banking sector.

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    ESG / Sustainability

    Australia Publishes New Sustainable Finance Roadmap

    By Sanday Chongo Kabange | 20/06/2024

    The roadmap says mandatory climate-related financial disclosure requirements will commence for large companies and FIs from 1 January 2025.

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    AML / KYC

    National Risk Assessment Reinforces Need for AML Reforms: AUSTRAC CEO

    By Editors | 20/06/2024

    AUSTRAC CEO Brendan Thomas said the need to respond to the vulnerabilities posed by professional services firms is now “more critical than ever”.

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