Australia

    ESG / Sustainability

    NZX to Establish Corporate Governance Centre of Excellence

    By Editors | 05/08/2022

    Members of the new institute will deliver recommendations to NZX on its rule settings and CG Code to further enhance listed companies’ corporate governance practices.

    AML / KYC

    ACCC Raises Alarm Over Rising Fake Bond Scams

    By Editors | 05/08/2022

    Reported losses suffered by Australian victims of imposter bond scams increased by 265% to A$20mn in H1, compared to the same period last year.

    ESG / Sustainability

    APRA Reveals Findings of Climate Risk Management Surveys

    By Editors | 05/08/2022

    Survey responses from banks. insurers and super funds shows are “encouraging”. A key area for improvement is metrics and targets.

    Market Infrastructure

    ASX: Launch of New CHESS Platform Delayed Until Late 2024

    By Editors | 04/08/2022

    Accenture to provide an independent review of the new CHESS application and help ASX determine a new launch schedule.

    ASIC Again Extends Transitional Relief for Foreign Financial Firms

    By Sanday Chongo Kabange | 03/08/2022

    The extension has likely been announced to allow the new government time to consider legislative reforms for foreign financial services providers.

    Market Infrastructure

    End of an Era for LIBOR Opens the Way for AONIA to Make its Mark in Australia

    By Pieter Bierkens | 01/08/2022

    Australia may see a shift away from BBSW to AONIA for products like cross-currency swaps and multi-currency lending facilities, says CBA’s Pieter Bierkens.

    APRA Proposes to Enhance Strategic Planning in Superannuation

    By Editors | 01/08/2022

    APRA proposes to update its prudential standard governing strategic planning and member outcomes in superannuation, just 2.5 years after it took effect.

    Enforcement

    ASIC Issues First Stop Orders Under DDOs Regime

    By Editors | 01/08/2022

    Three firms are required to temporarily stop offering their products to consumers due to deficiencies in their target market determinations.

    ESG / Sustainability

    NZ XRB Issues Final Consultation on Climate Reporting Standards

    By Editors | 31/07/2022

    The XRB intends to finalise the standards in December 2022. New Zealand’s first climate statements will be published in April 2024.

    AML / KYC

    AUSTRAC Proposes Rule Change to Accommodate ISO 20022

    By Editors | 29/07/2022

    The proposed amendments will enable reporting entities to submit IFTIs using the ISO 20022 message format.

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