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Capital / Liquidity
RBNZ Removes Liquidity Facilities Amid Improving Market Conditions
By Editors | 10/03/2021
Financial market conditions have “improved significantly” since the Term Auction Facility and the Corporate Open Market Operation were introduced.
Enforcement
Australian Court Penalises Dover Financial Advisers for Misconduct
By Editors | 09/03/2021
The penalty is part of the fallout from a 2019 federal court judgment that Dover Financial Advisers engaged in “false, misleading or deceptive conduct”.
ASIC Attributes Higher Industry Levies to Royal Commission Work
By Editors | 07/03/2021
ASIC’s regulatory work related to the Royal Commission recommendations involves higher-cost activities such as enforcement, supervision and surveillance.
Capital / Liquidity
APRA Finalises Reporting Standard for Operational Risk Capital
By Editors | 04/03/2021
APRA has introduced a 35 day lag before data submitted for ARS 115.0 will become non-confidential, to ensure an ADI’s financial disclosures are published first.
Capital / Liquidity
RBNZ Refines Principles Governing Insurance Solvency Review
By Editors | 04/03/2021
The RBNZ says it is confident that the revised principles are now robust, comprehensive and will guide the ongoing policy work on the review of solvency standards.
Enforcement
ASIC Charges Former Apogee Financial Adviser for Deception
By Editors | 03/03/2021
The ex-financial adviser obtained over A$1.5 million from Nulis Nominees, the trustee for the MLC Super Fund, on behalf of 168 clients.
RBNZ Policymaking Remit to Include Housing Price Sustainability
By Ranamita Chakraborty | 02/03/2021
The RBNZ will likely use prudential tools such as the LTV limits, bank stress testing, and capital requirements to deter certain types of mortgage lending.
Australia Passes Bill to Enhance Financial Advice Fee Disclosures
By Editors | 02/03/2021
Financial advisers will have to provide clients an annual, forward-looking summary of fees and corresponding services, in addition to existing disclosures.
Securities / Derivatives
Australian Senator Seeks to End Short Selling by Super Funds
By Editors | 01/03/2021
Senator Gerard Rennick says short selling practices are an example of how superannuation funds aren’t protecting the interests of their members.
Enforcement
ASIC Launches Suit Against CBA Units Over Compliance Failures
By Editors | 01/03/2021
Commonwealth Bank said the issues arose from errors such as IT system coding or systems issues, human error and/or data entry errors.
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