Australia

AML / KYC

ACCC Permits Banks to Collaborate on Anti-Scam Standards

By Sanday Chongo Kabange | 03/08/2023

The ABA and its member banks are permitted to collaborate on the development of cross-industry standards to combat scams.

AFCA Consults on Approach to Responsible Lending Complaints

By Sanday Chongo Kabange | 03/08/2023

Two separate consultations are being released, one on general responsible lending practices and the other on appropriate lending to small businesses.

Enforcement

ASIC Warns of More Enforcements in the ‘Coming Months’

By Sanday Chongo Kabange | 03/08/2023

ASIC said it has embedded new data and analytics capabilities into its insider trading surveillance processes.

APRA Finalises New Requirements on Remuneration Disclosures

By Sanday Chongo Kabange | 02/08/2023

New requirements to disclose information on remuneration frameworks, design, governance and outcomes will take effect from 1 January 2024.

Capital / Liquidity

RBNZ, FMA Issue New Standards for Designated FMIs

By Sanday Chongo Kabange | 01/08/2023

The new standards, effective from 1 March 2024, include 28 Standards, accompanying guidance, and a framework for regulating overseas FMIs.

Capital / Liquidity

APRA is Reviewing its Data Collections Roadmap

By Sanday Chongo Kabange | 01/08/2023

Some data collections are being prioritised to support APRA’s policy priorities for banking and to address data gaps.

Capital / Liquidity

RBNZ Consults on Implementation of Deposit Takers Act

By Editors | 31/07/2023

RBNZ proposes a framework for ensuring proportionality in its approach to setting prudential requirements. The consultation also covers how compensation scheme levies are set.

Enforcement

PwC Entered into Confidential Settlement with ATO in March

By Editors | 31/07/2023

PwC entered into a confidential settlement with the Australian Tax Office in March, though details of the settlement remain undisclosed.

Crypto / Digital Assets

Bendigo Bank Blocks “High-risk” Payments to Crypto Exchanges

By Editors | 31/07/2023

New rules for instant payments to crypto exchanges are designed to primarily target investment scams, Bendigo Bank said.