Australia

Capital / Liquidity

RBNZ, FMA Issue New Standards for Designated FMIs

By Sanday Chongo Kabange | 01/08/2023

The new standards, effective from 1 March 2024, include 28 Standards, accompanying guidance, and a framework for regulating overseas FMIs.

Capital / Liquidity

APRA is Reviewing its Data Collections Roadmap

By Sanday Chongo Kabange | 01/08/2023

Some data collections are being prioritised to support APRA’s policy priorities for banking and to address data gaps.

Capital / Liquidity

RBNZ Consults on Implementation of Deposit Takers Act

By Editors | 31/07/2023

RBNZ proposes a framework for ensuring proportionality in its approach to setting prudential requirements. The consultation also covers how compensation scheme levies are set.

Enforcement

PwC Entered into Confidential Settlement with ATO in March

By Editors | 31/07/2023

PwC entered into a confidential settlement with the Australian Tax Office in March, though details of the settlement remain undisclosed.

Crypto / Digital Assets

Bendigo Bank Blocks “High-risk” Payments to Crypto Exchanges

By Editors | 31/07/2023

New rules for instant payments to crypto exchanges are designed to primarily target investment scams, Bendigo Bank said.

Market Infrastructure

ASX Pledges to Implement Further Governance Improvements

By Sanday Chongo Kabange | 31/07/2023

ASX has pledged to, within three months, implement 16 recommendations made by Herbert Smith Freehills in its review of the group’s governance structure.

Consumer Complaints Reach Record High, says AFCA

By Editors | 30/07/2023

The rise in complaints is attributed scams, insurance claim delays, and banking disputes, AFCA said.

Market Infrastructure

NZ Regulators Demand Progress on Real-Time Payment System

By Editors | 27/07/2023

RBNZ and the Council of Financial Regulators criticised Payments NZ’s slow progress towards a real-time payment system.

Enforcement

Australia Fines Meta A$20m Over Misleading Data Usage Practices

By Editors | 27/07/2023

Australian Federal Court ordered Meta’s subsidiaries to pay AUD 20 million over deceptive consumer data usage, impacting over 270,000 users.