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Capital / Liquidity
RBA’s Term Funding Facility Didn’t Boost SME Lending as Intended
By Editors | 15/12/2022
Researchers said the TFF did not directly increase business lending, but it did reduce banks’ funding costs and led to lower interest rates throughout the economy.
Crypto / Digital Assets
Australia Seeks Input on Strategic Plan for Payments System
By Manesh Samtani | 15/12/2022
The government will also empower the RBA to regulate digital wallet providers and improve the regulatory framework for crypto service providers.
AML / KYC
AUSTRAC Releases First Proliferation Financing Risk Assessment
By Manesh Samtani | 15/12/2022
Australia is vulnerable due to lack of reporting requirements for DNFBPs and poor transparency of companies, trusts, and beneficial ownership.
Enforcement
ASIC Finds Product Governance Shortfalls by Small Credit Lenders
By Editors | 14/12/2022
TMDs issued by payday lenders and consumer leasing companies lacked detail in the descriptions of their products and target markets. Review triggers were also set too broadly.
ASIC Directs Super Funds to Improve Complaints Handling
By Sanday Chongo Kabange | 14/12/2022
Superannuation trustees are not responding to complaints in a timely manner and are failing to notify consumers of their right to approach AFCA.
Capital / Liquidity
APRA Consults on New Quarterly Statistical Publication
By Editors | 14/12/2022
APRA proposes to bring forward the publication frequency of four metrics to be on a quarterly basis for inclusion in the initial publication.
AML / KYC
ASIC Commences Proceedings Against Star Entertainment Execs
By Editors | 13/12/2022
ASIC says Star board members and key executives breached their duties by failing to address known money laundering risks.
ESG / Sustainability
Australian Treasury Consults on Climate Disclosures
By ESG Investor | 13/12/2022
Australia is consulting on the design and implementation of its proposed standards for the mandatory disclosure of climate‑related financial risks and opportunities.
Securities / Derivatives
Industry Ranks Singapore Top APAC Market to Operate In
By Editors | 11/12/2022
In an ASIFMA survey, capital market participants ranked Singapore as the top market for its political environment and predictable and transparent regulatory policy.
Crypto / Digital Assets
RBNZ to Start Monitoring Local Use of Crypto, Stablecoins
By Manesh Samtani | 11/12/2022
The monitoring framework will help the RBNZ understand how the market for new forms of money is developing and the implications for the monetary system.
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