Australia

Market Abuse

Australian Court Fines Money Transfer Firm for Exchange Rate Fixing

By Editors | 18/06/2022

Four individuals were also sentenced to jail on criminal cartel charges, but they were released on good behaviour bonds.

Credit Risk

New Zealand: Responsible Lending Rules to Change on 7 July

By Editors | 17/06/2022

Responsible lending laws introduced in December have been blamed for causing tighter credit conditions for New Zealand borrowers.

Cybersecurity

ASIC Calls on Listed Companies to Bolster Cyber Resilience

By Sanday Chongo Kabange | 16/06/2022

Companies should review their cyber resilience settings and ensure detection, mitigation and response measures are adequate, says Greg Yanco.

Conduct, Culture & Accountability

NZ FMA Fines Cigna for ANZ Product Distribution Failures

By Editors | 15/06/2022

ANZ was fined last year for making misleading representations when distributing CCRI policies, many of which were issued by Cigna and OnePath.

Anti-Money Laundering

Australian Federal Police Sets Sights on Italian Crime Groups

By Editors | 15/06/2022

Australian Police will use data obtained during Operation Ironside to target Italian organised crime syndicates for drug trafficking and money laundering.

Trading & Investment

ASX Consults on Fallbacks for 90 Day Bank Bill Futures

By Editors | 15/06/2022

ASX says the inclusion of fallback provisions in contractual documentation will provide contractual and risk management certainty.

Credit Risk

APRA Finalises Framework for Limiting Risky Mortgage Lending

By Editors | 15/06/2022

Lenders must ensure they are operationally ready by September to implement loan limits based on DTI multiples or LTV ratios.

Cryptocurrency

Australia: New Govt to Push Ahead with BNPL, Crypto Regulation

By Editors | 14/06/2022

The government will also continue a consultation process started by Josh Frydenberg on a regulatory framework for the crypto sector.

Reporting & Disclosures

ASIC Issues New Guidance on Prevent Greenwashing in Funds

By Manesh Samtani | 14/06/2022

Being ‘true to label’ is a regulatory must-have when it comes to sustainability-related products, says ASIC deputy chair Karen Chester.