Australia

Credit Risk

ASIC Cracks Down on Interest-Only Mortgages

By Editors | 23/08/2015

The Australian Securities and Investment Commission has asked lenders to lift their standards for interest-only mortgages, after a probe found that lending criteria do not meet their responsible lending obligations.

Clearing & Post-Trade

ASX Exempted from CFTC Registration for OTC Clearing, KRX Under Consideration

By Editors | 21/08/2015

CFTC issues its first-ever order of exemption from registration as a derivatives clearing organisation to ASX Clear, and is now considering the same for KRX.

Structural Regulation

ASIC Proposes Warrants and ETFs on Chi-X

By Editors | 20/08/2015

The Australian Securities and Investments Commission has proposed changes to its market integrity rules which would allow stock market operator Chi-X Australia to start quoting and trading warrants and exchange traded funds.

Credit Risk

Aussie Major Westpac Bank Tightens Interest-Only Credit Policies

By Editors | 18/08/2015

Westpac is tightening credit policies for interest-only mortgages, an area where financial regulators have raised concerns about bank underwriting standards.

Conduct, Culture & Accountability

Big Aussie Banks Refuse to Contribute to Compensation Fund

By Editors | 17/08/2015

The big bank lobby is refusing to fund a “last resort” compensation fund for victims of financial planners that go bust, arguing that smaller companies should fund it themselves.

Capital Adequacy

APRA Updates Guidelines on the Use of Restricted Banking Terms

By Editors | 17/08/2015

The Australian Prudential Regulation Authority has released updated guidelines in relation to the use of restricted terms in banking services.

Conduct, Culture & Accountability

Australia Clamps Down on Excessive Private Equity Fees

By Editors | 06/08/2015

The Australian Securities and Investments Commission is being urged to crack down on the disclosure of fees by private equity firms amid fears local super funds and investors are being overcharged.

Credit Risk

Australia’s AMP Bank Halts New Loans for Property Investors

By Editors | 03/08/2015

New applications halted with immediate effect, following a regulatory push to slow down such lending.

Capital Adequacy

Changes to Securitisation Structures May Hit Smaller Aussie Lenders Harder

By Editors | 01/08/2015

The Australian Prudential Regulation Authority may end up shutting smaller lenders out of their main funding source with its toughened stance on securitised loans.