Australia

ASIC Extends Deadline for Super Fund Portfolio Disclosures

By Editors | 30/10/2019

The first reporting day for portfolio holdings disclosure was set for 31 December this year, but the regulations which set out how this disclosure is to be organised have not yet been made.

Fintech / Regtech

NPP Australia Unveils Roadmap for New Payments Capabilities

By Editors | 30/10/2019

The roadmap includes the development of new structured data capabilities, third party payment initiation, and the ability to link regular payments to a mobile number.

Market Infrastructure

APRA to Delay Launch of New Data Collection Solution

By Editors | 29/10/2019

APRA is reviewing its implementation approach due to the complexity and significant burden of migrating all existing collections to the new solution.

Enforcement

ASIC Wins Appeal in Westpac Super Switching Case

By Editors | 29/10/2019

The ruling could limit the ability of financial services firms to market and cross-sell investment products using the ‘general advice’ allowance under the law.

Enforcement

ASIC Imposes Additional Licence Conditions on IOOF

By Editors | 29/10/2019

ASIC granted a licence variation requested by IOOF’s investment services unit, but has decided to also impose additional licence conditions.

Market Infrastructure

New Zealand Delays Start of New Licensing Regime

By Editors | 27/10/2019

The start date is being delayed to coincide with the date new regulations needed for transitional licensing take effect.

Market Infrastructure

APRA Seeks More Funding to Address Capability Review Findings

By Editors | 25/10/2019

In his opening statement to a Senate estimates hearing this week, APRA chairman Wayne Byres said the regulator will need additional resourcing to deliver on its objectives.

Fintech / Regtech

Australia Senate Committee Releases Fintech, Regtech Issues Paper

By Editors | 25/10/2019

The issues paper identifies five key factors for the fintech and regtech sectors which the committee will focus its attention on in a year long inquiry.

Enforcement

ACCC Mortgage Pricing Inquiry to Extend Beyond Mortgage Pricing

By Editors | 24/10/2019

ACCC chairman Rod Sims reportedly told a parliamentary hearing that bundling products such as credit cards and insurance would form part of the agency’s inquiry.