Australia

Capital / Liquidity

APRA Proposes Additional Revisions to IRRBB Standard

By Editors | 29/11/2022

APRA says the revisions are intended to result in a more stable IRRBB capital charge. It intends to finalise the revisions in mid-2023.

Securities / Derivatives

ASIC Issues Updated Guidance on ETP Naming Conventions

By Editors | 25/11/2022

ETP naming conventions are divided into two levels: primary labels which indicate product type, and secondary labels which indicate specific risks or strategies.

AML / KYC

AUSTRAC Directs ING Australian Units to Uplift AML/CTF

By Editors | 24/11/2022

Two ING entities are required to improve their AML/CTF programmes, ML/TF risk assessment, IFTI and SMR reporting, and transaction monitoring.

Crypto / Digital Assets

ASIC Commences Proceedings Over Unlicensed Crypto Products

By Editors | 24/11/2022

ASIC said some of Block Earner’s fixed yield earning products should have been licensed as managed investment schemes.

Fintech / Regtech

ASIC Releases API for Reportable Situations Submissions

By Manesh Samtani | 23/11/2022

The API provides a machine-to-machine interface solution to submit notifications about reportable situations, removing the need to manually input information into ASIC’s form.

NAB to Close Custody, Asset Servicing Business

By Editors | 19/11/2022

NAB is the only Australian big four bank still providing custody services in Australia. Its asset servicing business is now set to be closed in 2025.

ESG / Sustainability

APRA Issues Draft Guidance on Super Fund Investment Governance

By Editors | 19/11/2022

The guidance covers the new SPS 530 requirements on liquidity management, stress testing and valuations, as well as APRA’s expectations on ESG risk management.

ESG / Sustainability

New Zealand a Laggard in Net Zero Investment

By ESG Investor | 19/11/2022

Survey finds “disappointing progress” in new net zero commitments, but notes progress on policies by asset owners and fund managers.

AML / KYC

Medibank Customers Face Continued Threat of Data Leaks

By Manesh Samtani | 17/11/2022

Medibank refused to pay a $10m ransom to hackers, who have since released information linking individuals to drug addiction, alcohol abuse, abortions and mental health treatment.