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Australia Commences Review of ASIC’s Industry Funding Model
By Editors | 15/08/2022
The review will be “forward looking” and focused on identifying refinements to the funding model to ensure its settings remain “appropriate”.
Capital / Liquidity
APRA Corporate Plan Highlights Focus on Industry Resilience
By Sanday Chongo Kabange | 14/08/2022
In its latest corporate plan, APRA said its focus is to ‘protect the community today’ and ensure the financial system is ‘prepared for tomorrow’.
ASIC Identifies Complaints Handling Deficiencies at Super Funds
By Editors | 11/08/2022
ASIC discovered issues with complaints recording, response timeframes, failures to inform complainants of delays, and process failures.
Capital / Liquidity
APRA Finalises Reporting Standards for New Bank Capital Framework
By Editors | 11/08/2022
To maximise the time available for entities to develop reporting solutions, the APRA Connect external test environment will be made available in early September.
Market Infrastructure
ASIC to Provide Industry Support on Breach Reporting Compliance
By Sanday Chongo Kabange | 10/08/2022
ASIC says it is aware of implementation challenges associated with the new breach reporting regime, and that it will work to help reduce the compliance burden.
Crypto / Digital Assets
RBA to Explore Australia-specific Use Cases for CBDC
By Editors | 10/08/2022
The research project is expected to take about a year to complete and will involve the development of a limited-scale CBDC pilot operating in a ring-fenced environment.
Market Infrastructure
Australia Issues Revised Cyber Resilience Testing Framework
By Editors | 09/08/2022
The updated version of the CORIE framework follows the CFR’s endorsement of a plan for the wider rollout of the programme.
Capital / Liquidity
New Zealand to Further Revise Responsible Lending Rules
By Editors | 09/08/2022
This is the second tranche of changes to the CCCFA regulations, which have been criticised for making it too difficult for borrowers to obtain loans.
NZBA Announces Expansion to Regional Banking Hubs Trial
By Editors | 08/08/2022
The first four hubs were opened in November 2020. The second phase of the regional banking hubs trial will see four more hubs open.
Enforcement
ASIC Finalises Guidance on How FSCP Will Work
By Sanday Chongo Kabange | 05/08/2022
FSCP sitting panels will comprise an ASIC staff member as chair and at least two external members from the FSCP’s pool of industry participants.
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