The SC plans to make it a requirement for the majority of board members and the rating committee to be independent.
June 14, 2022APRA said the direction was necessary to ensure NESS Super Pty Ltd expedites the appointment of an additional independent director.
May 16, 2022The BSP says trust companies can use the internal audit function of a parent bank or NBFI, or outsource internal audit activities to an external firm.
April 4, 2022An independent report found issues were acknowledged by the board for several years but they were not given due attention or effective remediation.
November 26, 2021Payment system operators including banks and electronic money issuers have six months to comply with the requirements.
September 22, 2021New draft rules are aimed at strengthening safeguards to ensure the delivery of better outcomes for consumers of insurance/takaful products.
September 5, 2021Advisers will have to provide customers with suitable product options from at least three different providers when recommending insurance or takaful products.
August 16, 2021Payment system operators may not outsource core management functions such as risk management, internal audit and KYC compliance.
August 5, 2021Australian Military Bank is required to conduct a risk assessment, and then work to improve its KYC, transaction monitoring, EDD, and reporting systems.
May 6, 2021This guidance provides the baseline-level of cyber resilience recommendations as well as recommendations for enhanced-level practices.
April 29, 2021