Australia

Capital / Liquidity

New Zealand to Raise Kiwibank’s Capital to Enhance its Competitiveness

By Editors | 11/12/2024

The government has also set new expectations for the RBNZ emphasising that it must place greater emphasis on competition in the banking sector.

Capital / Liquidity

APRA Confirms Plans to Phase Out AT1 Capital Instruments

By Thisanka Siripala | 10/12/2024

The transition will take place over eight years until 2032, when the last AT1 capital instruments reach their first call date.

AFCA ‘Refines’ Approach to Dispute Resolution Following Review

By Sanday Chongo Kabange | 10/12/2024

AFCA said it has completed a 3-year programme to respond to an independent review of its operations and “redefined” its approach to external dispute resolution.

APRA Finalises Phase 2 Enhancements to Superannuation Data Collections

By Thisanka Siripala | 10/12/2024

APRA will gain additional information from super funds about governance practices, product distribution arrangements, and investment governance.

Enforcement

ASIC Calls on Government to Ban Unfair Trading in Financial Services

By Sanday Chongo Kabange | 10/12/2024

ASIC’s Alan Kirkland says the proposed ban is needed to combat “dark patterns” which “distort, subvert, and undermine consumer choice”.

AML / KYC

Australia Sets Out Beneficial Ownership Disclosure Policy for Unlisted Companies

By Sanday Chongo Kabange | 09/12/2024

Beneficial ownership information will be accessible to journalists, academics, AML/CTF reporting entities, regulators and law enforcement.

Capital / Liquidity

APRA Proposes Updates to Reporting Standard for Capital Adequacy

By Editors | 08/12/2024

The amendments to ARS 110 account for APRA’s new rules for banks on liquidity management and IRRBB reporting.

AML / KYC

Australia ACMA to Collaborate with UK Ofcom on Combatting Scams

By Sanday Chongo Kabange | 08/12/2024

The ACMA and Ofcom will collaborate and share information to tackle the “pervasive scourge” of spam and scam communications.

Australian Lawmakers Call for Reforms to Address Financial Abuse

By Thisanka Siripala | 07/12/2024

Parliamentary report calls for legislative reforms and for FIs to play a proactive role in identifying and supporting individuals facing financial abuse