Australia

Securities / Derivatives

FMA Proposes Guidance for Advising on IPOs, Listed Equity

By Editors | 07/07/2022

The guidance explains the FMA’s approach to applying and enforcing Code Standard 3 of the Code of Professional Conduct for Financial Advice Services.

Capital / Liquidity

APRA Proposes Enhanced Disclosures on Remuneration, Risk Metrics

By Editors | 07/07/2022

APRA proposes to require FIs to publicly disclose how their remuneration arrangements are designed and how risk is factored into remuneration outcomes for key executives.

ASIC Issues Guidance on Using Superannuation Forecasting tools

By Editors | 07/07/2022

Under the retirement income covenant, superannuation trustees are expected to consider providing superannuation calculators or retirement estimates to members.

AML / KYC

Puerto Rico Forces Closure of Bank Involved in Global Tax Probe

By Manesh Samtani | 06/07/2022

Peter Schiff’s Euro Pacific Bank was forced to close over capital shortfall and regulatory violations. The bank has been at the centre of a global tax evasion probe.

AML / KYC

New Zealand DIA Publishes Guidance on AML/CFT Approach & Strategy

By Sanday Chongo Kabange | 06/07/2022

The first publication covers the DIA’s approach to regulating AML/CFT. The second outlines how the DIA uses its compliance and enforcement toolkit.

Fintech / Regtech

AUSTRAC Issues Update on Reporting System Enhancements

By Editors | 05/07/2022

AUSTRAC has commenced development of a new CRM platform which will enable it develop enhanced self-service capabilities in AUSTRAC Online.

Market Infrastructure

ASX Responds on Tranche 3 Rule Changes for CHESS Replacement

By Editors | 05/07/2022

The rule amendments will be subject to regulatory approvals. ASX proposes to lodge the combined rules package with ASIC in Q4 of calendar year 2022.

Crypto / Digital Assets

ANZ Completes First Stablecoin Transaction Involving Carbon Credit

By Editors | 05/07/2022

ANZ client Victor Smorgon Group successfully purchased tokenised Australian carbon credits from Zerocap using A$DC as a medium of exchange.

Market Infrastructure

ASIC Calls on Industry to Bolster Resilience to Market Outages

By Manesh Samtani | 05/07/2022

Market participants should not delay broader planning and change programmes aimed at ensuring their resilience to market outages, ASIC says.