Australia

ASIC Warns on Unlicensed OTC

By Samuel Riding | 07/07/2016

Securities regulator has contacted 40 unlicensed operators, 21 have taken remedial measures.

Market Infrastructure

Concentration Risk Could Threaten Banking Collapse – APRA

By Samuel Riding | 27/06/2016

Commonwealth Bank, Westpac, National Australia Bank and ANZ together have 80% market share.

Market Infrastructure

Australia Stress-testing Building Societies, Credit Unions

By Samuel Riding | 24/06/2016

APRA test hypothesises -4% GDP, 13% rise in unemployment, 40% drop in house prices.

Market Infrastructure

Higher Capital Requirements Have Minimal Economic Impact – Report

By Samuel Riding | 23/06/2016

Think tank says Australian GDP would take only 0.01ppt hit from 100bp hike in capital requirement.

AML / KYC

ASIC Flags OTC Derivatives Compliance Failures

By Samuel Riding | 21/06/2016

More than 70% of firms authorised to sell retail OTC derivatives said failing to meet requirements.

Market Infrastructure

ASIC Confirms ASX Meets Regulatory Obligations

By Samuel Riding | 15/06/2016

Conclusion based on surveillance assessments and engagement with HK, Singapore regulators.

AML / KYC

ASIC Starts 1st Civil Action on Best Interests Rule

By Samuel Riding | 10/06/2016

Regulator says financial adviser breached ‘best interests duty’ in selling life risk insurance.

AML / KYC

ASIC Consults on Fintech Sandbox

By Samuel Riding | 08/06/2016

Regulator proposes six-month licensing exemption, modified organisational competence requirements.

Market Infrastructure

ASIC Launches 3rd BBSW-rigging Case

By Samuel Riding | 08/06/2016

Securities regulator accuses NAB of ‘unconscionable conduct and market manipulation’.