Australia

RBNZ Data System Illegally Accessed by Malicious Attacker

By Editors | 10/01/2021

Commercially and personally sensitive information may have been accessed by malicious attackers who accessed a third-party file-sharing service used by the RBNZ.

ASIC Approves Variations to Banking Code of Practice

By Editors | 10/01/2021

The changes extend the Covid-19 Special Note for six months to September 2021, and amend definitions to bring more small businesses into scope.

Capital / Liquidity

APRA Announced Further Reduction in Committed Liquidity Facility

By Editors | 06/01/2021

If outstanding government securities continue to increase beyond 2021, the CLF may no longer be required in the foreseeable future, APRA says.

ATO Reviews Superannuation Withdrawals for Rule Breaches

By Editors | 06/01/2021

The ATO will consider applying penalties for wrongful superannuation withdrawal only in serious cases where an applicant has deliberately applied, knowing they were not eligible.

Market Infrastructure

New Foreign Investment Regime Takes Effect in Australia

By Manesh Samtani | 04/01/2021

Foreign investors are required to seek approval for all investments in sensitive national security land or businesses (including starting such a business) regardless of value.

Fintech / Regtech

ACCC Extends Consumer Data Right to Business Customers

By Editors | 29/12/2020

The amendments will encourage CDR participation by expanding its benefits to more businesses, including companies and partnerships, the ACCC said.

Market Infrastructure

ASIC Demands Better Practices to Improve Audit Quality

By Editors | 29/12/2020

ASIC is currently considering or progressing enforcement action for auditor misconduct in twelve cases, as part of efforts to improve audit quality.

Market Infrastructure

ASIC Probes Market Participants for Possible Best Execution Failures

By Manesh Samtani | 21/12/2020

ASIC is concerned Chi-X as an alternative venue did not see more trading activity during ASX’s November outage, as would be expected given participants’ best execution duty to clients.

Capital / Liquidity

APRA to Maintain Zero Percent CCyB Through to End-2021

By Editors | 21/12/2020

APRA cites “the risk of further stresses to come” as a determining factor, including the threat of new Covid-19 outbreaks and the withdrawal of financial assistance measures.