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Australia
Market Infrastructure
ASX Unveils Advisory Group to Navigate CHESS Replacement Project
By Editors | 04/08/2023
ASX established an Advisory Group to provide strategic advice and restore confidence in the beleaguered CHESS replacement project.
ESG / Sustainability
New Zealand XRB Sets Temporary GHG Assurance Standard
By Ranamita Chakraborty | 04/08/2023
From October 2024, climate reporting entities in New Zealand will need to use an internationally recognised assurance standard (ISAE or ISO) to obtain assurance over their greenhouse gas (GHG) emissions disclosures.
Enforcement
ASIC Sues eToro Over Retail Sales of High Risk CFD Products
By Sanday Chongo Kabange | 03/08/2023
ASIC says eToro’s target market was too broad for “such a high-risk and volatile trading product where most clients lose money”.
Enforcement
Australia High Court Calls for Higher Penalty in Foreign Bribery Case
By Editors | 03/08/2023
High Court justices rejected the A$1.35mn fine ordered in a foreign bribery case, deeming it insufficient.
AML / KYC
ACCC Permits Banks to Collaborate on Anti-Scam Standards
By Sanday Chongo Kabange | 03/08/2023
The ABA and its member banks are permitted to collaborate on the development of cross-industry standards to combat scams.
AFCA Consults on Approach to Responsible Lending Complaints
By Sanday Chongo Kabange | 03/08/2023
Two separate consultations are being released, one on general responsible lending practices and the other on appropriate lending to small businesses.
Enforcement
ASIC Warns of More Enforcements in the ‘Coming Months’
By Sanday Chongo Kabange | 03/08/2023
ASIC said it has embedded new data and analytics capabilities into its insider trading surveillance processes.
APRA Finalises New Requirements on Remuneration Disclosures
By Sanday Chongo Kabange | 02/08/2023
New requirements to disclose information on remuneration frameworks, design, governance and outcomes will take effect from 1 January 2024.
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.
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