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Capital Adequacy
RBNZ Defers Dual Reporting Requirements for IRB Banks
By Editors | 25/10/2022
Dual reporting requirements for IRB banks are now expected to come into force for disclosure statements with reporting dates of 30 June 2023 or later.
Emerging Prudential Risks
APRA to Review Prudential Framework for Financial Groups
By Sanday Chongo Kabange | 25/10/2022
APRA will seek industry feedback in H1 2023 on five topics related to groups: financial resilience, governance, risk management, resolution, and competition issues.
Structural Regulation
ASIC Seeks Feedback on Asia Region Funds Passport
By Editors | 24/10/2022
ASIC is inviting the managed funds industry to provide feedback on the level of industry interest and preparedness to use the ARFP.
Trading & Investment
ASX Sets Out Measures for Handling Future Outages
By Editors | 24/10/2022
ASX will consult on a new automated service that can provide greater certainty about trade and order status, and a new ‘Cancel Only’ session state.
Conduct, Culture & Accountability
ASIC Offers Recommendations on Improving Auditor Practices
By Editors | 24/10/2022
ASIC conducted a thematic review on root cause analysis practices at the six largest audit firms, ahead of ASQM 1 coming into effect on 15 December 2022.
Anti-Money Laundering
NZ DIA Lists Common Areas of AML Non-Compliance
By Editors | 24/10/2022
Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.
Market Data & Technology
APRA Commences New Statistical Publication on Super Sector
By Editors | 24/10/2022
The published data for the first time includes information on the number and types of products and investment options available in the superannuation industry.
Structural Regulation
NZ FMA Issues Warnings Against Property Investment Firms
By Editors | 23/10/2022
The firms misused the wholesale investor exclusion to extend offers to people with little or no investment experience.
KYC & CDD
NZ FMA Issues Formal Warning to InvestNow Over AML Failures
By Editors | 22/10/2022
InvestNow had deficiencies in its processes for verifying customer identities and conducting CDD, EDD and SoW/SoF checks.
Structural Regulation
Australia: Industry Body Launches BNPL Code Review
By Editors | 19/10/2022
The review was launched six months early in response to feedback from stakeholders. The findings are due to be reported by 1 March 2023.
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