Australia

Market Infrastructure

ASX Pauses CHESS Replacement Project to Reassess Design

By Manesh Samtani | 17/11/2022

ASX will write off about A$250mn in capitalised software, in response to an independent review by Accenture. ASIC and the RBA express disappointment.

Fintech / Regtech

New Zealand Confirms Plans to Roll-out Out Open Banking

By Editors | 16/11/2022

The banking industry will be the first sector in New Zealand to implement a Consumer Data Right mechanism, like in Australia.

Capital / Liquidity

APRA Proposes Amendments to Capital Requirements for PPF Providers

By Editors | 16/11/2022

PPF providers are a type of stored value facility provider. The proposed changes are part of a broader review of APS 610.

Capital / Liquidity

APRA to Revise Financial Resources Rules for Super Trustees

By Editors | 16/11/2022

The proposed changes will require trustees to adopt a more sophisticated risk-based approach to the management of operational risk financial resources.

Securities / Derivatives

APRA Proposes Measures to Improve Super Fund Transfer Process

By Editors | 13/11/2022

The measures are proposed in response to the erosion of member benefits that occurs when successor fund transfers are carried out.

AML / KYC

ACCC Calls for Laws Requiring Digital Platforms to Stop Scams

By Editors | 13/11/2022

The ACCC says consumer and competition harms across a range of digital platform services are “widespread, entrenched, and systemic”.

APRA Calls for Continued Improvements in Bank Risk Culture

By Editors | 12/11/2022

APRA shares the results of a survey that sought views from employees at 18 ADIs on their risk management practices.

Fintech / Regtech

RBNZ Considers Need to Regulate Crypto Assets

By Editors | 11/11/2022

The RBNZ plans to publish an issues paper on the potential need to regulate private cryptoassets early next month.

ESG / Sustainability

Australia to Draw Private Capital to Affordable Housing Sector

By Editors | 10/11/2022

The National Housing Infrastructure Facility will be used to attract investment from super funds and institutional investors into the social and affordable housing sector.