Australia

Anti-Money Laundering

AUSTRAC Issues Update on Reporting System Enhancements

By Editors | 05/07/2022

AUSTRAC has commenced development of a new CRM platform which will enable it develop enhanced self-service capabilities in AUSTRAC Online.

Clearing & Post-Trade

ASX Responds on Tranche 3 Rule Changes for CHESS Replacement

By Editors | 05/07/2022

The rule amendments will be subject to regulatory approvals. ASX proposes to lodge the combined rules package with ASIC in Q4 of calendar year 2022.

Stablecoins

ANZ Completes First Stablecoin Transaction Involving Carbon Credit

By Editors | 05/07/2022

ANZ client Victor Smorgon Group successfully purchased tokenised Australian carbon credits from Zerocap using A$DC as a medium of exchange.

Payments & Settlements

ASIC Calls on Industry to Bolster Resilience to Market Outages

By Manesh Samtani | 05/07/2022

Market participants should not delay broader planning and change programmes aimed at ensuring their resilience to market outages, ASIC says.

Payments & Settlements

Australia Commences Roll-out of New Payments Service PayTo

By Editors | 04/07/2022

PayTo checks upfront for adequate funds in the paying customer’s account at payment initiation, reducing rejected payments and manual exception handling.

Liquidity Risk

APRA Concludes Post Implementation Review of LCR, NSFR

By Editors | 02/07/2022

The LCR and NSFR are operating effectively, but there are potential improvements that could be made to improve efficiency, APRA says.

Conduct, Culture & Accountability

ASIC Wins Appeal Against Payday Lenders Cigno, BHF Solutions

By Editors | 30/06/2022

ASIC is now considering using its broader product intervention powers to address consumer detriment in continuing credit contracts.

Conduct, Culture & Accountability

New Zealand Passes Law to Introduce ‘Conduct Licensing’ Regime

By Sanday Chongo Kabange | 30/06/2022

Banks, insurers and non-bank deposit takers will be required to obtain a conduct licence from the FMA, on top of their prudential licences from the RBNZ.

Resolution & Recovery

Another Australian Neobank Announces Decision to Close

By Manesh Samtani | 30/06/2022

The SME-focused Judo Bank is the only neobank in Australia which continues to run independently after listing on the ASX last year.