Australia

Making Compliance and Regulation a Competitive Advantage

By Peter Guy | 24/09/2014

Proactive strategies for optimising compliance systems will play a key role in bank business development.

New Zealand Banks Balk at Global Initiative Similar to FATCA

By Editors | 23/09/2014

New Zealand could be an early adopter of the multilateral follow-up to the controversial United States Foreign Account Tax Compliance Act (FATCA), but local banks are raising concern about the readiness of the sector for such initiative.

Australian Regulator Issues New Guidelines on Disclosure Reforms

By Editors | 17/09/2014

The Australian Prudential Regulation Authority has released for industry consultation a paper that outlines the new disclosure requirements for authorised deposit-taking institutions.

Australia, Singapore Agree on Access to OTC Derivatives Data

By Editors | 17/09/2014

The Australian Securities and Investments Commission and the Monetary Authority of Singapore is giving each other access to relevant data from trade repositories licensed in either markets under new agreement.

Australia’s Regulator Urges G20 to Tackle Big Bank Risks

By Editors | 17/09/2014

Australia’s new chief banking regulator has urged the G20 nations to continue to work on reducing risks of large banks’ failures, citing the need to strengthen current risk-based regime and boost banks’ capacity to absorb losses.

Australian Regulator Grants First Trade Repository Licence

By Editors | 16/09/2014

Australian Securities and Investments Commission has granted an Australian derivative trade repository licence to DTCC Derivatives Repository (Singapore) Pte Ltd (DDRS), the first licence of its kind in the country.

Australian Businesses Warn Against Hasty Bank Reforms

By Editors | 09/09/2014

Australia’s businesses have cautioned the financial system inquiry that forcing “too-big-to-fail” banks to hold more capital could drive up borrowing costs for ­business.

Australian Banks Seek Bail-Out Plan

By Editors | 01/09/2014

Imposing losses on bank creditors in a crisis could see the banking sector downgraded by ratings agencies, increase funding costs across the economy and potentially exacerbate a downturn, Australia’s largest banks have warned.

Australian Regulator Seeks More Power In Financial System

By Editors | 30/08/2014

The Australian Securities and Investment Commission is asking for the power to ban investment products and intervene more heavily in the market.