Australia

ASIC to Review Whistleblower Policies for Noncompliance

By Editors | 20/03/2022

ASIC will consider enforcement action and other regulator tools where compliance falls short of expectations, says commissioner Sean Hughes.

AML / KYC

NZ Regulators Issue Guidance on Russia Sanctions Compliance

By Manesh Samtani | 19/03/2022

The guidance highlights the need for reporting entities to conduct due diligence to understand who has effective control or beneficial ownership of legal structures.

Australia Releases Terms of Reference for Quality of Advice Review

By Editors | 18/03/2022

The review presents will assess how the regulatory framework for financial advice could deliver better outcomes for consumers.

Market Infrastructure

ASIC Expresses “Significant Concern” Over 4-Hour Outage at ASX

By Editors | 18/03/2022

After the incident on Thursday, ASIC said it views the outage with “significant concern” due to its “significant impact” on the market, market participants and investors.

Fintech / Regtech

Australian Regulators Call for Action to Regulate Crypto Sector

By Sanday Chongo Kabange | 18/03/2022

The RBA’s Philip Lowe, ASIC’s Joe Longo and APRA’s Wayne Byres are calling additional regulation to protect consumers from risks associated with the crypto sector.

NZ FMA to Publish Revised Conduct Guide for Consultation Soon

By Ranamita Chakraborty | 18/03/2022

The conduct guide sets out principles that financial services providers should apply when they are designing products or delivering services to the public.

Capital / Liquidity

RBNZ Proposes to Allow Mutual Banks to Issue Capital Instruments

By Editors | 18/03/2022

Mutual banks are currently unable to issue CET1 capital instruments, making it difficult for them to raise loss-absorbing capital, restricting their lending growth, and impairing their ability to compete.

Securities / Derivatives

Australian Super Funds Shy Away from Chinese Equities – Report

By Sanday Chongo Kabange | 18/03/2022

China’s crackdown on certain sectors has left super fund executives fearing that direct equity exposures to China may not be worth the added risk.

AML / KYC

NZ FIU Calls for Help to Combat Transnational Organised Crime

By Sanday Chongo Kabange | 16/03/2022

Reporting entities are “uniquely positioned” to detect TNOC activity through the implementation of preventive measures and reporting to the FIU.