Australia

Capital / Liquidity

“Most Banks” Support RBNZ Bank Capital Proposal

By Editors | 03/07/2019

The submissions from the RBNZ consultation on raising bank capital requirements show the proposals have broad public support, including from “most banks”.

Market Infrastructure

Australian Payments Council Releases New Strategic Agenda

By Editors | 03/07/2019

The strategic agenda sets out five areas that will guide the APC’s work to ensure the payments system remains resilient, efficient, accessible, and adaptable.

Market Infrastructure

NZX Completes Migration to Single Board, New Listing Rules

By Editors | 02/07/2019

NZX’s updated rule set took effect in January, but participants were allowed a six month transition period for adoption before the move to a single board.

Australia: New Law Safeguards Super Accounts from Excessive Fees

By Editors | 02/07/2019

Australia’s government says the new legislation will protect super savings from from being eroded by excessive and unnecessary fees and insurance costs.

Enforcement

Stronger Whistleblower Protections Take Effect in Australia

By Editors | 02/07/2019

The stronger protections for whistleblowers apply to misconduct or an improper state of affairs or circumstances, not just breaches of the law.

Market Infrastructure

ASIC to Hold Public Hearings on Responsible Lending

By Editors | 02/07/2019

The public hearings will provide a “robust and transparent way” to air issues and views raised in written submissions responding to ASIC’s February consultation on responsible lending.

Market Infrastructure

ASIC Approves Updated Banking Code of Practice

By Editors | 01/07/2019

ASIC is assessing changes to the Code proposed by the ABA in two stages, the first of which has been approved and is reflected in the latest version which took effect on 1 July.

Market Infrastructure

APRA Consults on Approach to Product Responsibility under BEAR

By Editors | 01/07/2019

APRA proposes to require ADIs to identify and register an accountable person to hold end-to-end product responsibility for each product offered to customers.

Fintech / Regtech

ASIC Proposes New Rules for Market Operators, Participants

By Editors | 30/06/2019

The proposals seek to ensure resilience of critical systems, reliability of outsourced services, and appropriate management of cyber and data security risks, among other requirements.