Australia

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.

Capital / Liquidity

RBNZ to Introduce New Capital Instrument for Mutual Banks

By Editors | 11/12/2022

The RBNZ will allow mutual banks to issue a so-called Mutual Equity Tier 1 (MET1) capital instrument, a new instrument that can qualify as CET1 capital.

Capital / Liquidity

APRA Finalises Expectations on Holding Contingent Liquidity

By Manesh Samtani | 11/12/2022

MLH ADIs with more than A$1bn in liabilities are expected to reduce self-securitised assets held as contingent liquidity to at least 10% of total deposits and short-term wholesale liabilities.

AML / KYC

AUSTRAC Issues Guidance to Help Customers Without Standard IDs

By Editors | 09/12/2022

The guidance will help FIs develop alternative customer identification and verification procedures to help customers that are unable to meet standard ID requirements.

Capital / Liquidity

APRA Finalises New Standard on Public Disclosures by Banks

By Manesh Samtani | 09/12/2022

The standard, which will require disclosure of remuneration arrangements, will become effective from 1 January 2025, 12 months later than initially proposed.

Crypto / Digital Assets

Australian Regulators Progressing Work on Stablecoins, CBDC

By Manesh Samtani | 09/12/2022

The CFR is trying to incorporate payment stablecoins into the proposed framework for SVFs. Meanwhile RBA assistant governor warns that CBDC could threaten financial stability.