Australia

Securities / Derivatives

Australia to Assist Cambodia in Capital Markets Development

By Editors | 11/10/2020

The Australian government will provide technical assistance to develop a regulatory framework and market capacity for investment in infrastructure.

Securities / Derivatives

Australia Federal Budget Delivers Super Fund Accountability

By Editors | 09/10/2020

Super funds will be forced to enhance disclosures on fees and performance. Consistently underperforming super funds will be prohibited from receiving new members.

Securities / Derivatives

ASX Proposes Auctions Mechanism to Handle Futures Participant Defaults

By Editors | 08/10/2020

ASX proposes rule amendments to allow it to auction off exchange-traded derivatives positions in the event that a futures clearing participant defaults.

Market Infrastructure

APRA Commences Roll-out of New Risk Supervision Model

By Manesh Samtani | 06/10/2020

The move to the new Supervision Risk and Intensity Model could lead to a change in the intensity of supervision that APRA applies for some entities.

Enforcement

Court Orders ANZ To Pay A$10m Penalty Over Unlawful Fees

By Editors | 06/10/2020

The case, launched by ASIC in July 2019, related to periodic payment fees ANZ was not entitled to charge under its terms and conditions.

Enforcement

ASIC Bans Former Fixed Income Broker for Ten Years

By Editors | 05/10/2020

The ex-broker charged unpermitted spreads and traded at prices other than the agreed independent valuation on transactions entered on behalf of referred clients.

Fintech / Regtech

ACCC Expands Intermediary Access to CDR Ecosystem

By Sanday Chongo Kabange | 04/10/2020

These amended rules will facilitate greater participation in the CDR by fintech firms and reduce the time and cost needed for accredited firms to enter the ecosystem.

NZBA Issues Guidelines for Banks on Serving Customer Needs

By Sanday Chongo Kabange | 02/10/2020

The guidelines were developed in consultation with the FMA and build on the banking industry’s work following the 2018 conduct and culture review.

AML / KYC

Australia to Allocate A$800m to Digital Initiatives in Budget

By Editors | 02/10/2020

The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.