Australia

Capital Adequacy

Stress Tests Reinforce Need for More Bank Capital: RBNZ

By Manesh Samtani | 19/09/2020

While all banks will be able to continue lending in a ‘pessimistic baseline’ scenario, capital would fall under regulatory minimums in a ‘very severe’ scenario.

Conduct, Culture & Accountability

GCRA: Little More Than Acting the Part

By Tamara Scicluna | 18/09/2020

We need real-time insights into cultural drivers of behaviour rather than backward-looking surveillance systems designed to catch bad actors after-the-fact.

Liquidity Risk

APRA Proposes Updates to Bank Liquidity Reporting Requirements

By Editors | 17/09/2020

APRA has identified areas where reporting instructions can be clarified to facilitate the provision of timely information on bank liquidity risk.

Capital Adequacy

ASX Revises Temporary Emergency Capital Raising Measures

By Editors | 17/09/2020

To use the emergency capital raising measures, companies must now satisfy ASX that they are raising capital predominantly to address a Covid-19 related impact.

Anti-Money Laundering

AUSTRAC Fines State Street Over IFTI Reporting Breaches

By Editors | 16/09/2020

State Street Bank and Trust failed to report IFTIs on 99 occasions. There is no suggestion that the transactions were suspicious or that there were CDD deficiencies.

Clearing & Post-Trade

BNP, Digital Asset to Develop DLT Connectivity to ASX, HKEX

By Editors | 15/09/2020

BNP Paribas Securities Services and Digital Asset have joined forces to design real-time trade and settlement apps using DAML smart contracts.

Reporting & Disclosures

New Zealand to Introduce Mandatory Climate Risk Reporting

By Manesh Samtani | 15/09/2020

If approved by Parliament, the new comply-or-explain climate risk disclosure regime could come into effect in 2023 at the earliest.

Structural Regulation

APRA, ACCC Update MoU on Financial Sector Cooperation

By Sanday Chongo Kabange | 15/09/2020

APRA and the ACCC agree to a proactive approach to engagement, which includes regular, senior-level liaison meetings and a greater emphasis on information sharing and collaboration.

Supervision & Enforcement

ASIC Power to Obtain Documents Upheld in Federal Court

By Editors | 14/09/2020

Two separate rulings against Maxi EFX and IOOF-owned RI Advice clarify obligations for those who receive ASIC notices requiring them to produce documents.