Australia

Structural Regulation

ASIC Seeks Greater Powers to Collect Data from Managed Funds

By Shruti Khairnar | 21/11/2020

ASIC’s Karen Chester says insolvencies and macro forces could present greater liquidity challenges to fund managers and affect investors’ ability to withdraw from funds.

Operational Risk

APRA Halves CBA Operational Risk Capital Add-on

By Editors | 20/11/2020

CBA has made “significant progress” in areas such as risk management and compliance, remuneration and risk culture, APRA says.

Fraud, Scams & Cybercrime

Australian Police Charge Ex-Promoter of Failed Crypto Platform

By Sanday Chongo Kabange | 19/11/2020

The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.

Conduct, Culture & Accountability

ASIC Drafts Reference Checking Protocol for Advisers, Mortgage Brokers

By Sanday Chongo Kabange | 19/11/2020

The Royal Commission recommended that reference checks be required for individuals seeking to be employed or authorised as a financial adviser or mortgage broker.

Market Abuse

Deloitte Appointed to Review RBNZ Processes After Accidental Disclosure

By Editors | 18/11/2020

A letter confirming RBNZ’s decision to introduce a Funding for Lending Programme was sent to financial services firms 45 early last week.

Conduct, Culture & Accountability

ASIC Consults on Barriers to Good Quality Affordable Personal Advice

By Sanday Chongo Kabange | 18/11/2020

ASIC is looking to better understand the barriers to providing good quality and affordable advice and help the industry provide such advice more broadly.

Conduct, Culture & Accountability

FMA Proposes New Guidance on Financial Product Advertising

By Sanday Chongo Kabange | 18/11/2020

The guidance sets out the FMA’s expectations of what good conduct in the advertising of offers of financial products looks like.

Anti-Money Laundering

The Need for Tranche 2 AML Reform in Australia

By Jeremy Moller | 18/11/2020

Norton Rose Fulbright’s Jeremy Moller highlights the advantages of regulating legal, accounting and real estate services under Australia’s AML laws, sooner rather than later.

Market Data & Technology

ASIC Flags Concerns Over Further Infrastructure Issues at ASX

By Editors | 17/11/2020

Following a near-full day market closure, data issues prevented ASX from displaying Chi-X bids and offers on its Centre Point matching system.