Australia

Operational Risk

APRA Proposes New Operational Risk Management Standard

By Editors | 29/07/2022

APRA proposes to introduce a new cross-industry prudential standard on operational risk management, which also covers third-party service providers.

Climate Risk

Australia Introduces Bill to Enshrine Climate Targets in Law

By Editors | 29/07/2022

The bill will enshrine into law a commitment to reduce emissions 43 percent by 2030, based on 2005 levels, and to reach net zero by 2050.

Reporting & Disclosures

New Zealand ESG Funds Must Provide Better Disclosures: FMA

By Manesh Samtani | 28/07/2022

Fund managers need to provide accurate and high-quality information to explain and support claims that their products incorporate non-financial factors.

Emerging Prudential Risks

RBNZ to Improve Readability of Bank Assurance Reports

By Editors | 28/07/2022

The RBNZ will implement changes designed to rationalise the structure of the assurance reports and improve their readability.

Fraud, Scams & Cybercrime

ASIC Warns of Prevalence of Payment Redirection Scams

By Editors | 28/07/2022

The latest ACCC data shows that payment redirection scams caused the highest losses to businesses in 2021.

Structural Regulation

Australia to Update Guidance on Payment Times Reporting

By Editors | 28/07/2022

Treasury says it has received a high number of enquiries from reporting entities and their advisers regarding administration of the Payment Times Reporting Scheme.

Capital Adequacy

APRA Finalises Implementation Guidance for New Capital Framework

By Editors | 27/07/2022

APRA is seeking written submissions by 26 August 2022 on consequential amendments relating to the treatment of exposures to New Zealand and the NSFR requirement.

Data Privacy

APRA to Start Publishing ‘Enhanced’ Superannuation Data in September

By Editors | 26/07/2022

Quarterly publications will start in September and annual publications in early 2023, comprising new and expanded data on an industry, fund and product basis.

Data Privacy

ACCC Launches Free Sandbox for CDR Participants

By Editors | 25/07/2022

The CDR sandbox will reduce the time and cost firms spend trying to become active CDR participants and updating their CDR offerings.