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Capital Adequacy
Australia: Bond Losses Wipe Out Central Bank’s Equity
By Editors | 22/09/2022
An accounting loss of A$36.7bn depleted the RBA’s reserve funds and left it with a negative net equity position of A$12.4bn.
Fraud, Scams & Cybercrime
Australia Court Orders Retrial of Banned Mayfair 101 Director
By Editors | 21/09/2022
ASIC put a “legally incorrect case” and the primary judge made orders “based on a legally correct case not put”, the court said.
Reporting & Disclosures
ACCC to Commence Internet Sweep Targeting Greenwashing
By Editors | 21/09/2022
Businesses may be asked to substantiate their green claims. The ACCC may take enforcement action if consumers are being misled or deceived.
Sustainable Finance
New Zealand to Issue First Sovereign Green Bonds This Year
By Editors | 18/09/2022
New Zealand’s Treasury has appointed BNZ and Deutsche Bank (Sydney) as joint structuring advisors to help establish the sovereign green bond programme.
Conduct, Culture & Accountability
Australia: FPA Adopts Simplified Professional Conduct Code
By Editors | 17/09/2022
A key element underpinning the new FPA Code is that members’ actions should promote a culture that “supports and requires integrity in others”.
Liquidity Risk
APRA Proposes to Update Guidance on Contingent Liquidity
By Editors | 17/09/2022
APRA will reduce the level of self-securitised assets banks must hold as contingent liquidity, provided they can increase these levels quickly if stress conditions emerge.
Structural Regulation
Australia Details Issues Under Scrutiny in Central Bank Review
By Editors | 15/09/2022
The review will consider the RBA’s current board structure, governance, and decision-making effectiveness and transparency.
Conduct, Culture & Accountability
ASIC Places Interim Stop Orders on Two Property Funds
By Editors | 15/09/2022
The orders prevent the funds from being offered or distributed to consumers until deficiencies in their TMD statements are addressed to ASIC’s satisfaction.
Conduct, Culture & Accountability
Australia Reintroduces Legislation for Financial Accountability Regime
By Editors | 13/09/2022
If the legislation passes, the FAR will apply to banks six months after commencement, and to insurance and superannuation 18 months after commencement.
Conduct, Culture & Accountability
Australia Tables Bill to Establish Compensation Scheme of Last Resort
By Manesh Samtani | 13/09/2022
Some in the industry have expressed concerns that the CSLR does not go far enough, as its scope does not cover managed investment schemes.
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