Australia

Sustainable Finance

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 Adequacy

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.

Conduct, Culture & Accountability

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.

Anti-Money Laundering

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.

Structural Regulation

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.

Structural Regulation

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.

Liquidity Risk

APRA Announces A$35b Reduction in Committed Liquidity Facility

By Editors | 06/11/2020

Five banks applied for a reduction, reducing the aggregate CLF allocated to banks from A$223bn at 1 January 2020 to A$188 billion.

Structural Regulation

CFTC Exempts BSE, NSE IFSC, NZX from FCM Registration

By Editors | 05/11/2020

BSE, NSE IFSC, and NZX will be allowed to accept US customer funds directly for trading in futures and options contracts without having to register as futures commission merchants.

Payments & Settlements

Australian FIs to Use NPP for International Payments by End-2022

By Editors | 05/11/2020

Participating FIs are required to join the international payments business service and receive inbound international payments via the NPP by December 2022.