Australia

Conduct, Culture & Accountability

NZX to Establish Corporate Governance Centre of Excellence

By Editors | 05/08/2022

Members of the new institute will deliver recommendations to NZX on its rule settings and CG Code to further enhance listed companies’ corporate governance practices.

Fraud, Scams & Cybercrime

ACCC Raises Alarm Over Rising Fake Bond Scams

By Editors | 05/08/2022

Reported losses suffered by Australian victims of imposter bond scams increased by 265% to A$20mn in H1, compared to the same period last year.

Climate Risk

APRA Reveals Findings of Climate Risk Management Surveys

By Editors | 05/08/2022

Survey responses from banks. insurers and super funds shows are “encouraging”. A key area for improvement is metrics and targets.

Clearing & Post-Trade

ASX: Launch of New CHESS Platform Delayed Until Late 2024

By Editors | 04/08/2022

Accenture to provide an independent review of the new CHESS application and help ASX determine a new launch schedule.

Structural Regulation

ASIC Again Extends Transitional Relief for Foreign Financial Firms

By Sanday Chongo Kabange | 03/08/2022

The extension has likely been announced to allow the new government time to consider legislative reforms for foreign financial services providers.

Structural Regulation

End of an Era for LIBOR Opens the Way for AONIA to Make its Mark in Australia

By Pieter Bierkens | 01/08/2022

Australia may see a shift away from BBSW to AONIA for products like cross-currency swaps and multi-currency lending facilities, says CBA’s Pieter Bierkens.

Emerging Prudential Risks

APRA Proposes to Enhance Strategic Planning in Superannuation

By Editors | 01/08/2022

APRA proposes to update its prudential standard governing strategic planning and member outcomes in superannuation, just 2.5 years after it took effect.

Structural Regulation

ASIC Issues First Stop Orders Under DDOs Regime

By Editors | 01/08/2022

Three firms are required to temporarily stop offering their products to consumers due to deficiencies in their target market determinations.

Reporting & Disclosures

NZ XRB Issues Final Consultation on Climate Reporting Standards

By Editors | 31/07/2022

The XRB intends to finalise the standards in December 2022. New Zealand’s first climate statements will be published in April 2024.