Australia

Capital / Liquidity

RBNZ Defers Start Date for Higher Bank Capital to June 2022

By Sanday Chongo Kabange | 11/11/2020

The RBNZ will also consult on re-instating LVR restrictions, maintain dividend restrictions for banks, and launch a new facility to provide cheap funding for banks.

Capital / Liquidity

Loan Loss Expectations Prompt Need for Collateral Visibility

By Editors | 11/11/2020

Collateral is one of the more underutilised credit risk mitigation tools available to banks, and likely to become more important as loan losses mount in the year ahead.

Fintech / Regtech

Australian Regulators Propose New Regulatory Regime for SVFs

By Editors | 10/11/2020

The proposed framework includes flexibility to ensure that regulation is able to adapt to innovations such as digital wallet facilities and global stablecoins.

ESG / Sustainability

New Zealand Unveils Roadmap for Sustainable Financial System

By Shruti Khairnar | 10/11/2020

Among the 11 key recommendations to help facilitate change, New Zealand’s roadmap involves the introduction of a new stewardship code for financial institutions.

Capital / Liquidity

APRA Adjusts Capital Treatment of Equity Investment in Subsidiaries

By Editors | 10/11/2020

The move is aimed at ensuring that any new or additional equity investments by banks in subsidiaries is backed by appropriate capital to reduce the risk to Australian depositors.

New Zealand FSC Publishes Disclosure Guide for Financial Advice Regime

By Sanday Chongo Kabange | 10/11/2020

The ‘Disclosure Guide’ will help advisors comply with the changes to disclosure requirements under the new financial advice regime which comes into force on 15 March 2021.

AML / KYC

AUSTRAC to Ramp Up Industry Guidance on AML Obligations

By Manesh Samtani | 09/11/2020

An unprecedented amount of AML/CTF information will be provided to industry in the next 6-12 months, says AUSTRAC’s David Hawkins.

FMA Finalises Standard Conditions for Full Financial Advice Licence

By Editors | 08/11/2020

All financial advice providers will have to meet the standard conditions to obtain a full licence when the new advice regime takes effect on 15 March 2021.

Securities / Derivatives

New Zealand FMA Appoints KPMG as Temporary Manager

By Shruti Khairnar | 07/11/2020

This is the first time the FMA has used its power to appoint a temporary manager, after the previous manager was removed over governance issues.