Australia

AML / KYC

Russia Warns of “Swift” Response to US Energy Import Ban

By Manesh Samtani | 10/03/2022

EU adds 160 names to sanctions list, extends SWIFT ban to Belarus; New Zealand passes Russia Sanctions Bill. Fitch projects “imminent” sovereign default.

Fintech / Regtech

ASIC Reverses Plans to Extend ePayment Protections to Small Business

By Editors | 08/03/2022

ASIC will publish an updated ePayments Code in April, enhancing some consumer protections and extending those protections to payments made using the NPP.

AML / KYC

New Zealand to Pass Russia Sanctions Bill This Week

By Manesh Samtani | 08/03/2022

The bill will pass “under urgency” this week, to provide further, extensive sanctions on Russia and individuals and companies connected to the Russian government.

Capital / Liquidity

APRA Commences Post Implementation Review of LCR, NSFR

By Editors | 06/03/2022

The review will inform potential adjustments to the LCR and NSFR and a broader review of APRA’s liquidity requirements.

Enforcement

NZ FMA Censures Derivatives Issuer Over Suitability Checks

By Editors | 05/03/2022

CTRL Investments allowed investors who could not demonstrate the necessary skills and knowledge to trade derivatives.

Enforcement

ASIC Consults on When to Convene FSCP Sitting Panels

By Ranamita Chakraborty | 03/03/2022

ASIC proposes that it will generally convene an FSCP sitting panel when misconduct is widespread or part of a growing trend, or where doing so can have deterrence benefits.

ESG / Sustainability

APRA to Survey Regulated Entities on Climate Risk Management

By Sanday Chongo Kabange | 03/03/2022

The survey will assess the alignment between current approaches used by regulated entities and the expectations set out in CPG 229 and the TCFD recommendations.

Capital / Liquidity

RBNZ Launches First Consultation Reviewing Liquidity Policy

By Editors | 01/03/2022

The paper asks for initial views on whether the RBNZ should consider adopting the BCBS liquidity framework, and whether its proposed principles for the review are appropriate.

AML / KYC

AUSTRAC Launches Federal Court Proceedings Against Crown Casinos

By Editors | 01/03/2022

Crown Melbourne and Crown Perth failed to assess ML/TF risk, carry out appropriate due diligence on customers, and establish a transaction monitoring programme.