Australia

AML / KYC

NZ FMA Toughens Approach to AML Non-Compliance

By Manesh Samtani | 30/09/2021

The FMA’s James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.

Securities / Derivatives

APRA Revises Investment Governance Standards for Super Funds

By Editors | 29/09/2021

A new consultation proposes enhancements to stress testing, valuation and liquidity management practices that will take effect from 1 January 2023.

Market Infrastructure

RBA Issues Recommendations to Address Risk Issues at ASX

By Editors | 29/09/2021

The RBA has asked ASX to address operational risk and governance issues, as well as develop a framework to address margin procyclicality.

AML / KYC

AUSTRAC Outlines Planned Enhancements to Reporting System

By Editors | 29/09/2021

A four-year transformation programme will introduce a “modern and intuitive user interface” and high-speed channels for file uploads, among other changes.

Big Picture

Australia Funds Industry Prone to Conflicts of Interest

By Editors | 26/09/2021

A “long, complex value chain” of intermediaries between fund managers and retail investors raises the potential for conflicts of interest.

ASIC Publishes Final Guidance on Anti Hawking Regime

By Ranamita Chakraborty | 24/09/2021

The guidance emphasises the need for firms to maintain records of consumers giving consent to be sold financial products as a way to demonstrate compliance.

NZ FMA Finds “Poor Value” in Credit Card Repayment Insurance

By Editors | 24/09/2021

Underwriters and distributors are directed to ensure their systems, processes and controls facilitate good customer outcomes.

ASIC Stresses Record-Keeping Obligation for New DDO Regime

By Ranamita Chakraborty | 24/09/2021

ASIC says it may request records from advice licensees and financial advisers to monitor compliance with the new design and distribution obligations.

Enforcement

ASIC Warns of Social Media ‘Pump and Dump’ Campaigns

By Editors | 23/09/2021

ASIC calls on market participants and listed companies to be on the lookout for and report suspected ‘pump and dump’ activity in listed securities.