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APRA Warns Banks of Cloud Computing Risks
By Editors | 08/07/2015
The Australian Prudential Regulation Authority has highlighted new risks being created as the banking industry makes greater use of cloud computing to cut costs and compete with technology-based rivals.
New Zealand Consults on Risk Indicators for Managed Funds
By Editors | 08/07/2015
New Zealand’s Financial Markets Authority has issued a consultation paper on risk indicators and descriptions of managed funds.
Aussie Banks Sell Stakes in Other Banks to Boost Capital
By Editors | 07/07/2015
Australian banks are actively looking to offload their equity stakes in foreign banks in anticipation of higher mortgage risk weightings being announced later this month.
Australia Financial Planning Sector Reforms to be Announced in August
By Editors | 04/07/2015
Reforms to lift ethics, education and professionalism in the scandal-ridden financial planning industry are set to be released in August.
Regulator to Respond on Raising Capital Levels at Australian Banks
By Editors | 03/07/2015
The Australian Prudential Regulation Authority is expected to respond this month (July) to Financial System Inquiry recommendations urging it to increase bank capital.
Super Funds to Require More Independent Directors
By Editors | 30/06/2015
The Australian Prudential Regulatory Authority will amend its prudential standards to support the effective implementation of government proposals to improve independence of super fund governance.
ASIC Blocks Interactive Brokers from FX Business in Australia
By Editors | 24/06/2015
The Australian Securities & Investments Commission has told Interactive Brokers to stop offering over-the-counter currency trading in Australia as it does not have the right license to operate.
Asset Managers Do Not Pose Systemic Risk, Says Medcraft
By Editors | 23/06/2015
Australian Securities and Investments Commission chairman Greg Medcraft dismisses concerns that large asset managers pose a systematic risk to the financial system.
Crypto / Digital Assets
Aussie Banks Test Digital Currency Ripple as New Payments Technology
By Editors | 19/06/2015
ANZ Bank and Westpac have joined Commonwealth Bank in testing new payments technology from US-based group Ripple Labs, representing a possible transformation of the payments industry.
Banks Face Tougher Penalties for Offering Incentives to Win Super Fund Business
By Editors | 16/06/2015
Banks and industry super funds will face tougher penalties for luring clients into default superannuation funds with incentives.
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