Australia

Clearing & Post-Trade

ASIC Expresses “Significant Concern” Over 4-Hour Outage at ASX

By Editors | 18/03/2022

After the incident on Thursday, ASIC said it views the outage with “significant concern” due to its “significant impact” on the market, market participants and investors.

Cryptocurrency

Australian Regulators Call for Action to Regulate Crypto Sector

By Sanday Chongo Kabange | 18/03/2022

The RBA’s Philip Lowe, ASIC’s Joe Longo and APRA’s Wayne Byres are calling additional regulation to protect consumers from risks associated with the crypto sector.

Conduct, Culture & Accountability

NZ FMA to Publish Revised Conduct Guide for Consultation Soon

By Ranamita Chakraborty | 18/03/2022

The conduct guide sets out principles that financial services providers should apply when they are designing products or delivering services to the public.

Capital Adequacy

RBNZ Proposes to Allow Mutual Banks to Issue Capital Instruments

By Editors | 18/03/2022

Mutual banks are currently unable to issue CET1 capital instruments, making it difficult for them to raise loss-absorbing capital, restricting their lending growth, and impairing their ability to compete.

Trading & Investment

Australian Super Funds Shy Away from Chinese Equities – Report

By Sanday Chongo Kabange | 18/03/2022

China’s crackdown on certain sectors has left super fund executives fearing that direct equity exposures to China may not be worth the added risk.

Anti-Money Laundering

NZ FIU Calls for Help to Combat Transnational Organised Crime

By Sanday Chongo Kabange | 16/03/2022

Reporting entities are “uniquely positioned” to detect TNOC activity through the implementation of preventive measures and reporting to the FIU.

Anti-Money Laundering

AUSTRAC Proposes Amendments to AML/CTF Rules

By Sanday Chongo Kabange | 16/03/2022

A new consultation paper proposes to exempt FIs that are already enrolled with AUSTRAC from registration on the DCE Register when offering digital currency exchange services.

Structural Regulation

AFCA Proposes New User-Pays Funding Model

By Mark Johnston | 15/03/2022

Under the new model, about 20% of AFCA members would experience a decrease in fees, while 70% would see no impact.

Credit Risk

New Zealand to Revise Responsible Lending Rules

By Mark Johnston | 15/03/2022

The new rules, introduced in December, were designed to protect the vulnerable but are making it more difficult for borrowers to obtain loans.