Australia

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APRA Issues Draft Guidance on Super Fund Investment Governance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.

RBNZ Proposes More Intensive Approach to Supervising Insurers

By Sanday Chongo Kabange | 17/11/2022

The RBNZ is consulting on governance, risk management, accountability for key officers, supervisory oversight, and data disclosures.

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.