Australia

Clearing & Post-Trade

ASX to Implement Fallbacks in OTC Interest Rate Derivatives

By Editors | 23/03/2022

From 27 June, all OTC Open Contracts cleared by ASX, including legacy trades, will be treated as if they incorporated fallback provisions contained in the 2021 ISDA Definitions.

CBDCs

BIS, Central Banks Complete Development of Multi-CBDC Prototypes

By Sanday Chongo Kabange | 23/03/2022

The initial phase of Project Dunbar has proved that the concept of multi-CBDCs is technically viable, says a new project report.

Conduct, Culture & Accountability

ASIC Warns on Using ‘Influencers’ to Promote Financial Products

By Sanday Chongo Kabange | 22/03/2022

ASIC places responsibility firmly on AFS licensees to ensure that any influencers they use and the financial-related content they present complies with the law.

Cryptocurrency

Australia Opens Consultation on Regulatory Regime for Crypto

By Manesh Samtani | 22/03/2022

The consultation proposes minimum standards of conduct, AML compliance obligations, and fit and proper requirements for directors and key persons.

Structural Regulation

ASIC Consults on CCIV Licensing Requirements

By Editors | 22/03/2022

ASIC will be able to limit a corporate director’s CCIV operations to one CCIV with a single sub-fund if the corporate director fails to demonstrate ‘organisational competence’ and capacity.

Conduct, Culture & Accountability

NZ FMA Asked to Improve Conflicts Handling Process

By Editors | 21/03/2022

An independent review has found shortcomings in the way the FMA handled a conflict of interest last year and proposed changes to its processes.

Data Privacy

Australia Consults on Expansion of CDR to Non-Bank Lending

By Editors | 20/03/2022

The designation of non-bank datasets under the CDR will support creditworthiness assessments and compliance with responsible lending obligations.

Conduct, Culture & Accountability

ASIC to Review Whistleblower Policies for Noncompliance

By Editors | 20/03/2022

ASIC will consider enforcement action and other regulator tools where compliance falls short of expectations, says commissioner Sean Hughes.

PEPs & Sanctions

NZ Regulators Issue Guidance on Russia Sanctions Compliance

By Manesh Samtani | 19/03/2022

The guidance highlights the need for reporting entities to conduct due diligence to understand who has effective control or beneficial ownership of legal structures.