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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.
Capital / Liquidity
RBNZ Proposes Rules for Imposing Mortgage Lending Limits
By Sanday Chongo Kabange | 10/11/2022
The earliest date the RBNZ could implement DTI restrictions on residential mortgage lending is likely to be March 2024.
AML / KYC
New Zealand DIA Issues Warning to BNPL Provider Openpay
By Editors | 09/11/2022
Openpay failed to establish, implement, and maintain an AML/CFT programme and to adequately monitor accounts and transactions.
Fintech / Regtech
New Zealand to Propose Regulatory Framework for BNPL
By Editors | 08/11/2022
BNPL providers will be required to conduct affordability checks on customers above a proposed value of NZD 600.
Enforcement
Federal Court Finds NAB Knowingly Overcharged Customers
By Editors | 08/11/2022
NAB became aware of the issue in January 2017 and did not stop overcharging customers until February 2019, court documents say.
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