Foreign shareholders can own up to 25% of a virtual bank. A BOT waiver raises this to a 49% limit. Three licences will be granted next year.
January 17, 2023APRA shares the results of a survey that sought views from employees at 18 ADIs on their risk management practices.
November 12, 2022APRA identified issues with RACQ’s risk and compliance framework and practices, unclear accountabilities, and an "immature risk culture".
October 13, 2022The A$1bn capital add-on imposed on CBA in May 2018 was halved in November 2020, and has now been completely removed.
October 3, 2022DTCC outlines steps firms should take to prepare for the emergence of new post-quantum cryptography standards. Final standards are scheduled for 2024.
September 23, 2022The RBNZ says Westpac NZ has improved its liquidity risk management and risk culture by improving resourcing and governance.
May 31, 2022APRA said the direction was necessary to ensure NESS Super Pty Ltd expedites the appointment of an additional independent director.
May 16, 2022The RBI has bolstered its supervisory focus at banks amid findings of compliance, risk management and internal audit weaknesses.
April 5, 2022Most successful business email compromise frauds occurred because LCs did not check or verify the identities of email senders or they ignored red flags.
March 25, 2022APRA says there will be a need for innovation in regulation and new rules, including to address how crypto-assets are treated for prudential purposes.
February 2, 2022