Australia

ESG / Sustainability

RBNZ Outlines Action Plan for Addressing Climate Risks

By Sanday Chongo Kabange | 27/10/2021

The RBNZ will develop a guidance note to support regulated entities in managing climate risks, focusing on physical, transition and liability risks.

Australia Empowers ASIC as Financial Advice Disciplinary Body

By Ranamita Chakraborty | 26/10/2021

Parliament has passed legislation enabling an ASIC panel to become the sole disciplinary body for financial advisers from January 2022.

ESG / Sustainability

New Zealand Passes Climate Reporting Legislation in World First

By Sanday Chongo Kabange | 24/10/2021

Mandatory climate disclosures will be required from early 2024, for annual reporting periods that start on or after 1 January 2023.

AFCA to Provide Clarity on New Compensation Scheme

By Editors | 23/10/2021

AFCA says it will help to provide clarity on the treatment of complaints about losses arising from financial products and financial advice.

Market Infrastructure

AFMA Calls for Removal of ‘LIBOR Cap’ Imposed on Foreign Banks

By Editors | 22/10/2021

AFMA is concerned that the LIBOR Cap will be replaced with a capping mechanism to be determined solely by the ATO.

AML / KYC

Australia Senate Report Proposes New Crypto Licensing Regime

By Manesh Samtani | 21/10/2021

The committee recommends a new category of market licence be created for crypto exchanges and a new company structure for DeFi platforms.

Securities / Derivatives

NZX to Migrate Dairy Derivatives to SGX on 27 November

By Editors | 21/10/2021

NZX has amended its Clearing and Settlement Rules and Procedures, and the NZX Derivatives Market Procedures, to give effect to the migration of open interests.

APRA Postpones Implementation of Updated ARS 720.1

By Ranamita Chakraborty | 21/10/2021

Delaying the commencement will provide ADIs with more time to make transition to the updated standard, APRA said.

AML / KYC

AUSTRAC Publishes Guidance on Geographical Link Test

By Editors | 21/10/2021

The geographical link test helps firms that provide designated services determine whether they have AML/CTF obligations in Australia.