Australia

Securities / Derivatives

ASX to Move Bank Bill Futures to Cash Settlement

By Editors | 19/08/2019

It is widely believed that cash-settled contracts will increase trading activity and liquidity into and throughout expiry, and result in lower risk of failed settlement.

Market Infrastructure

FMA Consults on Exemptions for New Financial Advice Regime

By Editors | 19/08/2019

The FMA considers that it may be useful to continue existing exemption relief for Australian licensees and advisers already meeting ASIC requirements.

Securities / Derivatives

Respondents ‘Broadly Supportive’ of New RMBS Framework: RBNZ

By Editors | 16/08/2019

The RBNZ says submissions to its November consultation were broadly supportive of the proposed new standard for mortgage bonds – the RMO framework.

Market Infrastructure

APRA Consults on Adjusted Schedule for Initial Margin Rules

By Editors | 15/08/2019

APRA is consulting on changes to the implementation schedule for initial margin requirements in Australia, in line with the one-year phased extension granted by BCBS and IOSCO last month.

Capital / Liquidity

APRA Orders Allianz to Raise Capital Level by A$250m

By Editors | 15/08/2019

APRA wants to send a message to the insurance and super sectors that it expects the same high standards of risk management, including for non-financial risks, as it does for banks.

Fintech / Regtech

Regulatory Trends: Behavioural Science in Culture & Conduct Supervision

By Stephen Scott | 15/08/2019

Regulators are adopting behavioural science tools pioneered by the Dutch central bank in their supervisory efforts, and firms are taking notice, says Stephen Scott at Starling.

Market Infrastructure

RBNZ Publishes New Data Series for Measuring Mortgage Risk

By Editors | 14/08/2019

The release of the new debt-to-income data comes as the government considers including it as an additional tool in the RBNZ’s macro-prudential toolkit.

Enforcement

ASIC Ordered to Pay Westpac Costs in Case Dismissal

By Manesh Samtani | 14/08/2019

In September, Westpac admitted to breaching responsible lending laws and agreed to a A$35mn settlement with ASIC. The settlement was rejected and the case has been dismissed.

ESG / Sustainability

ASIC Updates Guidance on Climate Risk Disclosures

By Editors | 13/08/2019

The new guidance describes climate change as a “systemic risk that could have a material impact on the future financial position, performance or prospects of entities”.