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Enforcement
Australia: Hackers Accessed Data of 4m Customers, Medibank Admits
By Manesh Samtani | 26/10/2022
Medibank does not have cyber insurance, and is expected to face investor class actions, on top of lawsuits from angry customers and likely fines.
Crypto / Digital Assets
ASIC Files Suit Over Misleading Claims by Crypto Firm
By Editors | 26/10/2022
ASIC said BPS Financial engaged in unlicensed conduct and made false, misleading or deceptive representations about a crypto token called Qoin.
Capital / Liquidity
RBNZ Defers Dual Reporting Requirements for IRB Banks
By Editors | 25/10/2022
Dual reporting requirements for IRB banks are now expected to come into force for disclosure statements with reporting dates of 30 June 2023 or later.
Capital / Liquidity
APRA to Review Prudential Framework for Financial Groups
By Sanday Chongo Kabange | 25/10/2022
APRA will seek industry feedback in H1 2023 on five topics related to groups: financial resilience, governance, risk management, resolution, and competition issues.
Securities / Derivatives
ASIC Seeks Feedback on Asia Region Funds Passport
By Editors | 24/10/2022
ASIC is inviting the managed funds industry to provide feedback on the level of industry interest and preparedness to use the ARFP.
Securities / Derivatives
ASX Sets Out Measures for Handling Future Outages
By Editors | 24/10/2022
ASX will consult on a new automated service that can provide greater certainty about trade and order status, and a new ‘Cancel Only’ session state.
ASIC Offers Recommendations on Improving Auditor Practices
By Editors | 24/10/2022
ASIC conducted a thematic review on root cause analysis practices at the six largest audit firms, ahead of ASQM 1 coming into effect on 15 December 2022.
AML / KYC
NZ DIA Lists Common Areas of AML Non-Compliance
By Editors | 24/10/2022
Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.
Securities / Derivatives
APRA Commences New Statistical Publication on Super Sector
By Editors | 24/10/2022
The published data for the first time includes information on the number and types of products and investment options available in the superannuation industry.
Enforcement
NZ FMA Issues Warnings Against Property Investment Firms
By Editors | 23/10/2022
The firms misused the wholesale investor exclusion to extend offers to people with little or no investment experience.
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