Australia

Conduct, Culture & Accountability

NZ FMA Censures Derivatives Issuer Over Suitability Checks

By Editors | 05/03/2022

CTRL Investments allowed investors who could not demonstrate the necessary skills and knowledge to trade derivatives.

Conduct, Culture & Accountability

ASIC Consults on When to Convene FSCP Sitting Panels

By Ranamita Chakraborty | 03/03/2022

ASIC proposes that it will generally convene an FSCP sitting panel when misconduct is widespread or part of a growing trend, or where doing so can have deterrence benefits.

Climate Risk

APRA to Survey Regulated Entities on Climate Risk Management

By Sanday Chongo Kabange | 03/03/2022

The survey will assess the alignment between current approaches used by regulated entities and the expectations set out in CPG 229 and the TCFD recommendations.

Liquidity Risk

RBNZ Launches First Consultation Reviewing Liquidity Policy

By Editors | 01/03/2022

The paper asks for initial views on whether the RBNZ should consider adopting the BCBS liquidity framework, and whether its proposed principles for the review are appropriate.

Anti-Money Laundering

AUSTRAC Launches Federal Court Proceedings Against Crown Casinos

By Editors | 01/03/2022

Crown Melbourne and Crown Perth failed to assess ML/TF risk, carry out appropriate due diligence on customers, and establish a transaction monitoring programme.

PEPs & Sanctions

Singapore, Korea, Switzerland Announce Sanctions Against Russia

By Manesh Samtani | 01/03/2022

Singapore will block certain Russian banks and financial transactions connected to Russia. Major Singapore banks are already restricting trade financing for Russian commodities.

Liquidity Risk

RBA to Adjust Liquidity-Providing Market Operations

By Editors | 27/02/2022

The RBA will adjust the way it sets interest rates for repo transactions with banks and shorten the maximum tenor to four weeks.

Supervision & Enforcement

APRA Super Fund Performance Test Results in Mergers, Exits

By Editors | 27/02/2022

13 super funds failed APRA’s inaugural MySuper Product Performance Test last August. The worst performer, Maritime Super, is in talks to merge with industry fund Hostplus.

PEPs & Sanctions

Russia Facing Comprehensive Sanctions Over Ukraine Invasion

By Manesh Samtani | 25/02/2022

The US is targeting all ten of Russia’s largest financial institutions. Russian access to most major markets has been restricted.