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Capital / Liquidity
RBNZ to End Bank Dividend Restrictions on 1 July
By Sanday Chongo Kabange | 02/06/2022
The RBNZ expects banks to continue to be prudent in determining the appropriate size of dividends paid to their shareholders.
Fintech / Regtech
ASIC Releases Updated ePayments Code
By Manesh Samtani | 02/06/2022
The revised Code extends the protections to cover NPP payments and toughens banks’ obligations to help customers recover funds sent to the wrong account.
ESG / Sustainability
NZ XRB Publishes Directors’ Guidance on Climate Disclosures
By Editors | 02/06/2022
The guide outlines key considerations and best practice areas for directors to consider as they prepare for New Zealand’s climate-related disclosures framework.
Enforcement
AFCA to Start Using New Funding Model from 1 July
By Editors | 01/06/2022
The new user-pay model will reward good performance and early resolution while apportioning fees fairly based on the actual use of AFCA’s services.
ESG / Sustainability
Australasia Investor Group Partners with TNFD on Nature-related Risk
By Editors | 31/05/2022
The partnership will help drive the consideration, input and uptake of the TNFD framework in the Australian and New Zealand markets.
AML / KYC
FATF Re-rates New Zealand for Progress on UBO Transparency
By Editors | 31/05/2022
The FATF says New Zealand was re-rated on Recommendation 25 due to new requirements for trusts coming into force.
Enforcement
ASIC Files Suit Against ANZ Over ‘Unlawful’ Credit Card Charges
By Editors | 31/05/2022
ANZ charged fees and interest to customers who withdrew funds that were shown as available on their credit card account balances.
Capital / Liquidity
RBNZ Commends Westpac for Improved Liquidity Risk Management
By Editors | 31/05/2022
The RBNZ says Westpac NZ has improved its liquidity risk management and risk culture by improving resourcing and governance.
Enforcement
ACCC Commences Legal Proceedings Against Mastercard Units
By Editors | 31/05/2022
The ACCC says Mastercard offered cheaper rates to over 20 major retail businesses if they used its own network to process transactions.
ESG / Sustainability
ASX to Scrutinise ETF Labels to Tackle Greenwashing – Report
By Sanday Chongo Kabange | 30/05/2022
ASX will scrutinise listed instruments to ensure they are “true to label” and only list new funds that comply with ASIC’s naming requirements.
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