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Capital / Liquidity
APRA, ASIC Update Guidance on Treatment of Deferred Loans
By Editors | 13/08/2020
Deferred loans need not be treated as past due or impaired for capital or reporting purposes until after 31 March. New reporting requirements will apply.
Market Infrastructure
RBNZ Announces Expansion of Large-Scale Asset Purchases
By Editors | 12/08/2020
The RBNZ has expanded its quantitative easing programme to NZ$100bn and signalled a willingness to enter negative OCR territory, in response to Covid-19 related uncertainty.
AML / KYC
Australia Police Arrest Three on Money Laundering Charges
By Editors | 12/08/2020
Two of the men are accused of laundering tens of millions of dollars for an international money laundering organisation which includes several high-value targets of Australian law enforcement.
AML / KYC
New Zealand FIU Boasts ‘Excellent Outcomes’ in June
By Editors | 12/08/2020
June saw the restraint of NZ$140mn from alleged money launderer Alexander Vinnik and the seizure of over 30 high-end cars from outlaw motorcycle gangs.
Securities / Derivatives
ASIC Issues Warning on Asset Valuations in Managed Funds
By Sanday Chongo Kabange | 12/08/2020
ASIC says it is aware that illiquid assets have been difficult to value amid the pandemic, but asserts that it is precisely in this context that valuations are most important.
Fintech / Regtech
ACCC Declines to Pursue Banks Over Screen Scraping Warnings
By Sanday Chongo Kabange | 12/08/2020
Australia’s competition watchdog says the banks’ warnings against screen scraping security risks do not constitute anti-competitive conduct.
Capital / Liquidity
APRA to Recommence Policy Work, Licensing Activity
By Editors | 10/08/2020
APRA will recommence public consultations on high-priority prudential policy reforms, and begin accepting new licence applications in September.
Market Infrastructure
Australia Unveils Cyber Security Strategy for 2020
By Editors | 06/08/2020
Law enforcement will receive funding to bolster its ability to go after cyber criminals, complemented by the use of AUSTRAC’s financial intelligence expertise to target their profits.
Market Infrastructure
Westpac to ‘Proactively’ Switch Merchants to Least Cost Routing
By Editors | 06/08/2020
The RBA has signalled it was considering taking regulatory action to force banks to move faster in moving merchants from Mastercard and Visa to lower cost networks.
Securities / Derivatives
ASX Concludes Consultation on CHESS Replacement Timeline
By Editors | 05/08/2020
A four-week consultation on a new timeline for the CHESS replacement project has found that 91% of users can be ready by April 2022.
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