Australia

Cloud & Infrastructure

APRA to Adopt New Consultation Approach to Data Collection

By Manesh Samtani | 11/03/2021

APRA plans a consultation process that will allow it to design its data collections in a way that will minimise friction and reduce the regulatory burden of regulated entities.

Emerging Prudential Risks

APRA Demands Sustainable Insurance in Superannuation

By Ranamita Chakraborty | 11/03/2021

APRA is concerned about premium volatility, the availability and provision of data, and tender practices used by insurers to win business.

Operational Risk

APRA Accepts Court Enforceable Undertaking from Allianz

By Editors | 11/03/2021

Allianz Australia acknowledges previous risk and compliance weaknesses and emphasises its commitment to addressing these issues.

Liquidity Risk

RBNZ Removes Liquidity Facilities Amid Improving Market Conditions

By Editors | 10/03/2021

Financial market conditions have “improved significantly” since the Term Auction Facility and the Corporate Open Market Operation were introduced.

Conduct, Culture & Accountability

Australian Court Penalises Dover Financial Advisers for Misconduct

By Editors | 09/03/2021

The penalty is part of the fallout from a 2019 federal court judgment that Dover Financial Advisers engaged in “false, misleading or deceptive conduct”.

Supervision & Enforcement

ASIC Attributes Higher Industry Levies to Royal Commission Work

By Editors | 07/03/2021

ASIC’s regulatory work related to the Royal Commission recommendations involves higher-cost activities such as enforcement, supervision and surveillance.

Operational Risk

APRA Finalises Reporting Standard for Operational Risk Capital

By Editors | 04/03/2021

APRA has introduced a 35 day lag before data submitted for ARS 115.0 will become non-confidential, to ensure an ADI’s financial disclosures are published first.

Capital Adequacy

RBNZ Refines Principles Governing Insurance Solvency Review

By Editors | 04/03/2021

The RBNZ says it is confident that the revised principles are now robust, comprehensive and will guide the ongoing policy work on the review of solvency standards.

Fraud, Scams & Cybercrime

ASIC Charges Former Apogee Financial Adviser for Deception

By Editors | 03/03/2021

The ex-financial adviser obtained over A$1.5 million from Nulis Nominees, the trustee for the MLC Super Fund, on behalf of 168 clients.