Australia

ESG / Sustainability

NZ FMA to Issue Additional Guidance on Climate Disclosures

By Sanday Chongo Kabange | 30/05/2023

The FMA will issue guidance covering monitoring, third-party providers, record-keeping, and scenario analysis in June and July.

Capital / Liquidity

RBNZ Confirms Plan to Ease Mortgage Lending Restrictions

By Ranamita Chakraborty | 29/05/2023

A 10 percent limit on owner-occupier loans with an LVR above 80 percent will increase to 15 percent.

AML / KYC

Australia Considers Expansion of Modern Slavery Law

By Manesh Samtani | 29/05/2023

The expansion would include penalties for failing to report, submitting a report with false information, or failing to implement a due diligence system.

Capital / Liquidity

Approaches to Credit Risk Capital Often Misunderstood: APRA

By Manesh Samtani | 27/05/2023

APRA explains that the differences between the IRB and standardised approaches to credit risk are justified, fair and equitable.

Market Infrastructure

APRA Directs Regulated Entities to Address MFA Implementation Gaps

By Sanday Chongo Kabange | 26/05/2023

Multi-factor authentication is one of the “most effective controls” an organisation can implement to unauthorised access to a device or network, APRA says.

Australia to Expand AFCA Remit to Superannuation

By Sanday Chongo Kabange | 25/05/2023

Proposed changes will allow AFCA to hear complaints relating to superannuation whether or not they meet the definition of superannuation complaint in the Corporations Act.

Enforcement

PwC Australia Referred for Possible Criminal Investigation

By Sanday Chongo Kabange | 25/05/2023

Treasury referred PwC to the AFP to consider a criminal probe related to a leak of confidential tax policy information.

Market Infrastructure

ASX Confirms Plans to Ramp Up Industry Testing Exercises

By Ranamita Chakraborty | 24/05/2023

ASX will increase the number of BCP events to two per year. All participants are expected to attend. The next BCP event is on 3 June.

Fintech / Regtech

RBA Considers Banning ‘Default’ Route on Dual Network Cards

By Editors | 23/05/2023

The RBA had set an expectation that merchants would be offered least-cost routing by end-2022, but the industry did not meet this timeline.