Australia

    Emerging Prudential Risks

    RBNZ Proposes Changes to its Monetary Policy Remit

    By Editors | 05/06/2022

    The RBNZ suggests housing market objectives be excluded from the remit, just a year after it was amended to include house price considerations.

    Capital Adequacy

    RBNZ to End Bank Dividend Restrictions on 1 July

    By Sanday Chongo Kabange | 02/06/2022

    The RBNZ expects banks to continue to be prudent in determining the appropriate size of dividends paid to their shareholders.

    Payments & Settlements

    ASIC Releases Updated ePayments Code

    By Manesh Samtani | 02/06/2022

    The revised Code extends the protections to cover NPP payments and toughens banks’ obligations to help customers recover funds sent to the wrong account.

    Climate Risk

    NZ XRB Publishes Directors’ Guidance on Climate Disclosures

    By Editors | 02/06/2022

    The guide outlines key considerations and best practice areas for directors to consider as they prepare for New Zealand’s climate-related disclosures framework.

    Structural Regulation

    AFCA to Start Using New Funding Model from 1 July

    By Editors | 01/06/2022

    The new user-pay model will reward good performance and early resolution while apportioning fees fairly based on the actual use of AFCA’s services.

    Nature & Biodiversity

    Australasia Investor Group Partners with TNFD on Nature-related Risk

    By Editors | 31/05/2022

    The partnership will help drive the consideration, input and uptake of the TNFD framework in the Australian and New Zealand markets.

    Anti-Money Laundering

    FATF Re-rates New Zealand for Progress on UBO Transparency

    By Editors | 31/05/2022

    The FATF says New Zealand was re-rated on Recommendation 25 due to new requirements for trusts coming into force.

    Conduct, Culture & Accountability

    ASIC Files Suit Against ANZ Over ‘Unlawful’ Credit Card Charges

    By Editors | 31/05/2022

    ANZ charged fees and interest to customers who withdrew funds that were shown as available on their credit card account balances.

    Liquidity Risk

    RBNZ Commends Westpac for Improved Liquidity Risk Management

    By Editors | 31/05/2022

    The RBNZ says Westpac NZ has improved its liquidity risk management and risk culture by improving resourcing and governance.

    Structural Regulation

    ACCC Commences Legal Proceedings Against Mastercard Units

    By Editors | 31/05/2022

    The ACCC says Mastercard offered cheaper rates to over 20 major retail businesses if they used its own network to process transactions.

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