Australia

Market Infrastructure

ASIC Details Areas for Improvements in ASX Governance

By Editors | 18/09/2018

The ASX Group has undertaken an extensive work programme aimed at improving technology governance and operational risk management.

Enforcement

ASIC Pursues Civil Penalty for ANZ Disclosure Breach

By Manesh Samtani | 17/09/2018

ANZ failed to disclose in its 2015 capital raising that underwriters Citi and Deutsche took up one-third of its share placement.

Market Infrastructure

NEX Launches OTC Derivatives Reporting Solution in Australia

By Editors | 17/09/2018

The solution ensures data integrity and quality before delivery to CME Group or DTCC Asia licensed trade repositories.

Market Infrastructure

ACCC Consults on Open Banking Data Rights Rules

By Editors | 13/09/2018

Consumer data rights framework to be initially applied under the open banking regime, with the big four banks set to make data available by 1 July 2019.

Market Infrastructure

NZX, Nasdaq Agree to Explore Cross Market Access

By Manesh Samtani | 12/09/2018

The exchanges will explore opportunities to promote dual listings, depository receipts, ETFs and broader market development initiatives.

Enforcement

Australian Banks Face ‘Largest Ever’ Class Action

By Editors | 12/09/2018

A series of class actions for millions of super fund customers could cost Australian financial institutions up to A$1bn.

Enforcement

ASIC’s Year Ahead to Focus on Conduct, Culture, Consumer Trust

By Garima Chitkara | 11/09/2018

ASIC Commissioner John Price laid out the regulator’s priorities regarding conduct and culture risk in the financial industry in the coming year.

Enforcement

ASIC Begins Civil Proceedings Against NAB Entities

By Garima Chitkara | 10/09/2018

Two wealth management divisions of NAB are the subject of civil proceedings in an Australian Federal Court for charging over half a million customers fees for no services.

Capital / Liquidity

ASIC Releases New Rules on Responsible Credit Card Lending

By Manesh Samtani | 06/09/2018

Credit card providers will need to assess the suitability of new cards and credit limit increases based on consumers’ ability to repay in full within a three year period.