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Market Infrastructure
APRA Issues Draft Prudential Practice Guide on Remuneration
By Editors | 01/05/2021
The guidance will assist entities in complying with APRA’s new standard on remuneration, which is expected to be finalised later this year.
AML / KYC
FATF Publishes New Zealand Mutual Evaluation Report
By Manesh Samtani | 30/04/2021
Of the 40 recommendations, New Zealand is ‘Compliant’ on 8, ‘Largely Compliant’ on 20, and ‘Partially Compliant’ on 12.
AML / KYC
Australia Scraps Plan to Introduce Beneficial Ownership Register
By Ranamita Chakraborty | 30/04/2021
Senator Jane Hume reportedly refused to back the register, a move experts say will entrench Australia as a money laundering haven.
Market Infrastructure
RBNZ Releases Final Guidance on Developing Cyber Resilience
By Ranamita Chakraborty | 29/04/2021
This guidance provides the baseline-level of cyber resilience recommendations as well as recommendations for enhanced-level practices.
Fintech / Regtech
Australia: Tax Reforms Proposed to Support Financial Hub Ambitions
By Ranamita Chakraborty | 27/04/2021
Under Senator Andrew Bragg’s proposal, technology and finance business that relocate to Australia would pay concessional tax rate for seven years.
ESG / Sustainability
Australia: Super Fund Body Launches New Climate Change Policy
By Ranamita Chakraborty | 27/04/2021
The Australian Council of Superannuation Investors is seeking the integration of climate change risk in super fund investment strategies.
Securities / Derivatives
ASX to Introduce Default Management Auctions for ETD in Q3
By Editors | 25/04/2021
ASX consulted last year on the introduction of an auctions framework for exchange-traded derivatives in the event of a futures clearing participant’s default.
Australian Life Insurers Launch Professional Standards Framework
By Editors | 24/04/2021
The framework was developed through collaboration between life insurers comprising 95 percent of the gross written premium in the retail life industry.
Enforcement
ASIC Seeks Feedback on New Breach Reporting Guidance
By Manesh Samtani | 23/04/2021
The draft regulatory guide provides clarification on what constitutes a reportable situation under the upcoming breach reporting reforms.
Securities / Derivatives
FMA Warns Fund Managers Not to Mislead Investors
By Sanday Chongo Kabange | 22/04/2021
The FMA has directed fund managers not to advertise performance which only includes the recovery after March 2020.
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