The proposed rules prohibit misleading sales, compulsory product bundling, unreasonable charges, and "algorithmic discrimination".
May 23, 2022The rules will address differences in how banks have implemented the ECL method, and prevent its use as a "tool" to adjust profits.
May 23, 2022APRA said the direction was necessary to ensure NESS Super Pty Ltd expedites the appointment of an additional independent director.
May 16, 2022The new platform will record NCD creation, continuously monitor covenants and asset cover, and track credit ratings.
May 16, 2022Financial regulators are prioritising psychological safety, ‘speak up’ culture, and the ability to “predict and prevent” stakeholder harm, says a report from Starling.
May 16, 2022Ping An, China Mobile, Ant Group, Dagong Credit Rating as well as asset managers and energy producers helped to develop the standards.
May 14, 2022New FAQs highlight the need for FIs to understand how vendors evaluate data source reliability and the controls they have in place address unreliable sources.
May 12, 2022Securities and futures firms will have to establish risk monitoring and early warning systems, and strengthen daily vulnerability scanning and security assessments.
May 6, 2022NAB's action plan has to be completed by 31 Dec 2024, and a final report issued by Mar 2025. An independent auditor will have to report progress to AUSTRAC annually.
May 4, 2022Banks, insurers, brokers and foreign FIs are urged to establish licensed fund management companies. Fund investment channels will be expanded and operational rules relaxed.
May 3, 2022