Australia

Fintech / Regtech

Australia Passes ‘Deeply Flawed’ Anti-Encryption Bill

By Manesh Samtani | 11/12/2018

The powers granted under the bill allow law enforcement agencies to compel access to encrypted messages, which could have broader implications for financial services.

Capital / Liquidity

Financial System Risks Eased, but Higher Capital Necessary – RBNZ

By Manesh Samtani | 30/11/2018

Though domestic financial stability risks have abated, the RBNZ said higher bank capital requirements are necessary, while also easing mortgage lending curbs.

Securities / Derivatives

ASX Consults on Changes to Listing Rules

By Editors | 29/11/2018

The proposals aim to improve market disclosures, simplify the listing rules, increase efficiency in the listing process, and enhance ASX’s powers to monitor and enforce compliance, among other changes.

Enforcement

RBA Discloses A$22.6m in Penalties Paid by its Subsidiaries in 2012

By Manesh Samtani | 29/11/2018

The court-suppressed penalties were paid by the RBA subsidiaries to settle charges of conspiracy to bribe foreign officials for the purpose of obtaining or retaining business.

Capital / Liquidity

APRA Extends Timeline for Capital Reforms to Align with Basel III

By Editors | 27/11/2018

APRA will align capital reforms with Basel III timelines, effectively pushing implementation to 1 January 2022. It has also adjusted the leverage ratio in response to consultative feedback.

Crypto / Digital Assets

Regulatory Winds Reshaping Australian Retail Trading

By Anthony Griffin | 27/11/2018

Whether offering OTC derivatives, forex or cryptocurrency, retail trading platforms must put client interests front and centre, says OANDA’s Anthony Griffin.

Enforcement

Macquarie Emerges from Royal Commission Unscathed

By Manesh Samtani | 26/11/2018

Macquarie seen as the first responsible corporate role model in the nine months since banking royal commission public hearings began.

Enforcement

Restoring Trust in Financial Sector Essential for Economic Prosperity – RBA

By Manesh Samtani | 23/11/2018

Strengthening trust in Australia’s financial institutions requires better incentive systems, clearer lines of accountability and stronger penalties for misconduct, said RBA governor Philip Lowe.

Market Infrastructure

New Zealand Banks Must Address Risks from Sales-Linked Incentives – FMA

By Manesh Samtani | 19/11/2018

The FMA expects banks to change sales-linked incentives, or explain how they will strengthen controls to address the risk of inappropriate sales.