Australia

Securities / Derivatives

ASIC Outlines Expectations on Activist Short Selling

By Manesh Samtani | 02/06/2021

Activist short selling can have a positive impact on market integrity, however it can also unduly distort the price of a target entity’s securities, ASIC says.

Enforcement

APRA Targets Risk Culture in Superannuation Sector

By Ranamita Chakraborty | 31/05/2021

APRA is piloting a risk culture survey with plans to roll it out to a number of superannuation entities in 2022.

Market Infrastructure

RBNZ Publishes Results of Data Breach Review by KPMG

By Editors | 31/05/2021

KPMG found that the use of file-sharing app Accellion FTA went beyond the acceptable use specified in the RBNZ’s own guidelines.

ESG / Sustainability

APRA Invites Tenders to Help Model Physical Climate Risk

By Editors | 31/05/2021

APRA is seeking physical climate risk modelling capabilities to support the delivery of climate scenario analysis data to banks participating in the CVA project.

Enforcement

ASIC Files Federal Court Suit Against AMP Companies

By Editors | 30/05/2021

ASIC has taken court action against AMP for charging deceased customers insurance premiums and advice fees. AMP has already remediated the impacted customers.

Enforcement

ASIC Files Criminal Charges Against ME Bank

By Editors | 29/05/2021

ME bank made “false or misleading” representations in home loan customer communications and failed to give timely notice of changes to the loan terms.

Market Infrastructure

Westpac Becomes First Aussie Major to Issue SOFR Debt

By Editors | 28/05/2021

The bond issuance included a $300mn floating-rate bond tranche maturing in five years that was priced at a 52 basis point spread over SOFR.

AML / KYC

AFP, AUSTRAC Probe Payments via Adult Content Site – Report

By Editors | 28/05/2021

Banks and regulators are unable to establish who receives the payments via UK-based platform OnlyFans, which acts as an intermediary for content makers.

Market Infrastructure

LIBOR Transition in Cash Markets Remains Slow: ASIC

By Manesh Samtani | 28/05/2021

Only 14 percent of post-cessation date loans have robust fallbacks in place, said ASIC’s Nathan Bourne at a Bloomberg-ICMA webinar.