Australia

Enforcement

APRA Faces Questioning on Mortgage Fraud Risk Review

By Garima Chitkara | 01/03/2018

APRA chairman to answer questions on unreleased mortgage risk review findings in Australian Senate this week.

Fintech / Regtech

New Zealand Opens Up Robo-Advisory Market

By Manesh Samtani | 26/02/2018

Applicants will need to demonstrate capability and competency to provide robo-advice while ensuring consumer protection.

Enforcement

Australian Banks’ Bill for Dodgy Financial Advice Hits $40mn

By Garima Chitkara | 22/02/2018

Australian banks paid an additional $16.7mn to compensate customers affected by “non-compliant” financial advice between 2009 and 2015.

Enforcement

New Zealand Regulator Flags Market Misconduct

By Garima Chitkara | 22/02/2018

Report outlines enforcement actions on market manipulation against Milford Asset Management trader, investigation into trading at Goldman Sachs, other cases of misconduct.

Capital / Liquidity

APRA Capital Framework Revisions Credit Positive for Banks – Moody’s

By Editors | 20/02/2018

Higher risk weightings for higher-risk residential mortgages will improve the alignment of capital to risk and better reflect their sensitivity to economic cycles, says Moody’s.

Securities / Derivatives

Australian Sell-side Research Rules Threaten IPO Bonanza

By Bradley Maclean | 19/02/2018

Guidance on sell-side research could disappoint investment bankers who expected a strong year for new listings.

Market Infrastructure

ASIC Publishes Credit Rating Agency Review

By Garima Chitkara | 18/02/2018

Credit ratings agencies found lacking on compliance testing and board reporting.

Enforcement

Australia Creates New Financial Complaints Body

By Editors | 16/02/2018

New body merges three existing complaints authorities; will streamline complaints process and quicken dispute resolution for customers.

Capital / Liquidity

Australia Proposes Bank Capital Framework Revisions

By Samuel Riding | 14/02/2018

APRA does not expect new rules to extend banks’ capital requirements beyond ‘unquestionably strong’ level set out last July.