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Australia Releases Report Addressing Bank Branch Closures
By Editors | 05/10/2022
The report says banks need to improve communication and support provided to local communities when regional branches close or their hours are reduced.
Australia Consults on Possible Changes to ASIC Funding Model
By Editors | 04/10/2022
Discussion paper asks whether there are opportunities to simplify the design, structure, and legislative framework for ASIC’s industry funding model.
AML / KYC
Australian Regulators Propose Measures to Address De-Banking
By Editors | 04/10/2022
A CFR policy paper provides four recommendations to address de‑banking of fintechs, crypto exchanges and remittance firms.
Enforcement
Australian Court Dismisses ASIC Lawsuit Against CBA
By Editors | 03/10/2022
The Federal Court ruled that ASIC failed to establish that CBA received conflicted remuneration when distributing Colonial First State’s superannuation product.
Capital / Liquidity
APRA Removes CBA’s Remaining A$500m Capital Add-on
By Editors | 03/10/2022
The A$1bn capital add-on imposed on CBA in May 2018 was halved in November 2020, and has now been completely removed.
AML / KYC
US, UK, Canada, Australia Announce More Russia Sanctions
By Manesh Samtani | 03/10/2022
The sanctions are a response to Putin’s attempt to annex four regions of Ukraine, after holding referendums that have been denounced as illegal and coercive.
Market Infrastructure
RBA Expresses Concerns Over CHESS System Delays in ASX Assessment
By Editors | 02/10/2022
ASX recorded a “strike” against the adoption of its remuneration report, which included a A$1.2mn bonus for former CEO Dominic Stevens despite the CHESS replacement delay.
Capital / Liquidity
RBNZ Seeks Feedback on Risk Weighting Requirements
By Editors | 02/10/2022
The proposed changes are designed to clarify risk weighting requirements under the RBNZ’s bank capital adequacy rules.
Market Infrastructure
New Zealand Consults on Regulations to Support CoFi Regime
By Editors | 01/10/2022
Two consultations have been issued, including an exposure draft on regulations defining prohibited volume-based sales incentives.
ESG / Sustainability
Australian Investors Demand Further Climate Reforms
By ESG Investor | 30/09/2022
The Investor Group on Climate Change has outlined “high priority policies“ needed to “unlock capital” for Australia’s net zero transition.
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