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Structural Regulation
ANZ Faces Regulatory, Industry Scrutiny Over Proposed Suncorp Deal
By Editors | 24/07/2022
ANZ will need approval from the ACCC, the Federal Treasurer and Queensland officials. The Finance Sector Union is calling for the deal for be rejected.
Market Abuse
ASIC Expects Market Participants to Detect Pump and Dump Activity
By Editors | 23/07/2022
New report sets out indicators and good practices to help market participants detect, prevent, and respond to pump and dump activity.
Conduct, Culture & Accountability
NZ FMA Consults on New Licence Conditions Under CoFi
By Editors | 21/07/2022
Banks, insurers and non-bank deposit takers will need a ‘financial institution licence’ issued by the FMA starting in early 2025.
Fraud, Scams & Cybercrime
ACCC Chair Calls for Joint Response to Financial Scams
By Sanday Chongo Kabange | 21/07/2022
ACCC chair Gina Cass-Gottlieb says banks have a responsibility to protect customers from investing in scam cryptocurrency schemes.
Operational Risk
APRA Finalises New Standards on Super Fund Investment Governance
By Editors | 21/07/2022
The new standard will commence on 1 January 2023. APRA will consult on additional guidance later this year, also covering ESG risks.
Conduct, Culture & Accountability
ASIC Imposes Eight Year Bans Over Pressure Selling of CFDs
By Editors | 21/07/2022
Two executives have been banned for eight years after their firm engaged in “unconscionable conduct” including the use of pressure selling tactics.
Capital Adequacy
APRA Removes Remaining Capital Overlay Applied on Allianz
By Editors | 20/07/2022
APRA says it is satisfied that Allianz has fulfilled its commitments set out in a court enforceable undertaking undertaken in March 2021.
Payments & Settlements
RBNZ Launches New Standing Repo Facility
By Editors | 19/07/2022
The facility will allow eligible counterparties to lend NZD overnight and receive New Zealand government bonds as collateral.
Anti-Money Laundering
New Zealand Court Dismisses Appeal of First AML Act Convictions
By Editors | 19/07/2022
Jiaxin Finance, its sole director and his mother were sentenced to pay fines for AML/CFT violations in 2020. Their appeals have been dismissed.
Anti-Money Laundering
NSW Authorities Inquire Into Money Laundering via Gaming Machines
By Editors | 17/07/2022
NSW Crime Commission issued new papers as part of an inquiry into money laundering via electronic gaming machines at pubs, clubs and hotels.
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