Australia

AML / KYC

NZ DIA Warns Money Remitters on Using Third-Party Accounts

By Sanday Chongo Kabange | 17/08/2023

Money remitters are using third-party bank accounts to deliver their money remittance services without advising the bank of this purpose.

ESG / Sustainability

RBNZ Publishes ‘Too Little, Too Late’ Climate Stress Test Scenario

By Editors | 15/08/2023

The climate stress test scenario is titled ‘Too Little, Too Late’ because of the lengthy delay in enacting meaningful global climate policies.

Big Picture

Inside ASIC’s Derivatives Reporting Rule Rewrite

By Manesh Samtani | 14/08/2023

ASIC’s Alex Orgaz-Barnier and DTCC’s Priya Kundamal spoke to Regulation Asia about the changes to the derivative transaction reporting regime in Australia.

ESG / Sustainability

ASIC Takes Legal Action Against Active Super for Alleged Greenwashing

By Ranamita Chakraborty | 11/08/2023

Australian superannuation fund Active Super allegedly invested in coal, tobacco, and Russian entities despite claiming to be ethical and responsible.

New Zealand Set to Unveil Regulatory Framework for BNPL

By Editors | 11/08/2023

BNPL lenders will have to complete comprehensive credit reporting when customers sign up or increase their credit limit.

Enforcement

ASIC Sues Debt Management Firm for Causing Consumer Harm 

By Sanday Chongo Kabange | 10/08/2023

The debt management firm offered to help borrowers solve their financial burdens but instead caused them more harm, ASIC alleges.

Capital / Liquidity

APRA Refocuses Policy Priorities on Financial Stability of Banks

By Sanday Chongo Kabange | 10/08/2023

For the rest of 2023, APRA is prioritising “immediate actions to strengthen standards for bank financial stability issues”.

Sanctions

US, Canada, New Zealand Target Belarus With New Sanctions

By Editors | 10/08/2023

The coordinated sanctions come on the three-year anniversary of a presidential election which Alexander Lukashenko won by allegedly falsifying votes.

Securities / Derivatives

APRA Finalises Methodology for Combining MySuper Performance Histories

By Mark Johnston | 10/08/2023

The methodology will apply in the MySuper performance test, for situations such as product mergers or closures where performance histories must be combined.