ADVERTISEMENT
Enforcement
ASIC Eyes Accountability for Algorithmic System Operators
By Samuel Riding | 11/09/2017
Regulator’s chairman says each algorithmic system must have designated individual responsible for design and outcomes, echoing new bank accountability regime.
Singapore, Australia and ‘Fundamental Regulatory Overhaul’
By Samuel Riding | 31/08/2017
Requirements on balance sheet reporting a stiff challenge for banks despite regulators’ nods to technology’s potential, says Axiom SL.
AML / KYC
Australian Regulator Launches CBA Inquiry
By Samuel Riding | 29/08/2017
APRA inquiry to look at whether governance, culture and accountability frameworks conflict with ‘sound risk management and compliance outcomes’.
AML / KYC
Lawyers Seek to Sue Bank for Share Price Drop after AML Revelations
By Editors | 24/08/2017
Firms claim share price would not have suffered as precipitous a decline if claims of money laundering had been revealed earlier.
Securities / Derivatives
ISDA Urges EU Not to Force Local Clearing Post Brexit
By Editors | 23/08/2017
Trade organisation says move to local CCPs could push up initial margin costs by 20% or more; cites Australian equivalency model.
AML / KYC
Australia Signals Currency Status, AML Clampdown for Bitcoin
By Samuel Riding | 21/08/2017
Cryptocurrency to be brought under AUSTRAC; proposal to follow Japan in giving bitcoin legal tender status being considered by central bank.
Capital / Liquidity
Australia Eyes Provisional Market Access for Aspiring Banks
By Samuel Riding | 16/08/2017
Restricted ADI licensees would need only $2.35mn in capital to take deposits; APRA paper does not address budget proposal to remove ‘bank’ capital requirements.
Capital / Liquidity
NZ to Embark on Bank Regulation Review Following IMF Assessment
By Garima Chitkara | 10/08/2017
IMF views the central bank less fully compliant with the Basel Core Principles and recommended a more prescriptive rule-making approach to regulation.
Securities / Derivatives
APRA CPS 226 to Include Framework for Substituted Compliance
By Garima Chitkara | 10/08/2017
Update allows for determining the status of a foreign counterparty and use its status under the margin requirements of the relevant foreign jurisdiction.
AML / KYC
CBA Responds to AUSTRAC Civil Proceedings
By Garima Chitkara | 07/08/2017
Bank claims that the missing TTRs were due to a coding error following a software update in the IDMs since November 2012 until September 2015.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.