Australia

Resolution & Recovery

Australian Banks Seek Bail-Out Plan

By Editors | 01/09/2014

Imposing losses on bank creditors in a crisis could see the banking sector downgraded by ratings agencies, increase funding costs across the economy and potentially exacerbate a downturn, Australia’s largest banks have warned.

Conduct, Culture & Accountability

Australian Regulator Seeks More Power In Financial System

By Editors | 30/08/2014

The Australian Securities and Investment Commission is asking for the power to ban investment products and intervene more heavily in the market.

Capital Adequacy

Australian Banks Reject Capital Holding Call

By Editors | 27/08/2014

Australian banks have rejected suggestions by Financial Services Inquiry chief David Murray that the industry needs to increase its holdings of capital.

Conduct, Culture & Accountability

Australian Banks Face Class Actions on Fees

By Editors | 18/08/2014

Australian banks are facing open class actions filed by legal firm Maurice Blackburn over late credit card fees worth hundreds of millions of dollars, in what could be one of the country’s biggest class suits ever.

Conduct, Culture & Accountability

Macquarie to Contact Thousands of Clients Over Poor Advice

By Editors | 15/08/2014

The Australian Securities and Investments Commission has ordered Macquarie Group to contact 160,000 clients who may have lost money due to flawed financial advice.

Structural Regulation

New Zealand Regulator Relaxes Debt Capital Raising Norms

By Editors | 11/08/2014

Commerce Minister Craig Foss announced further steps to simplify and encourage participation in New Zealand’s capital markets, including easing compliance rules for debt issuers.

Conduct, Culture & Accountability

ASIC Imposes New Conditions for CBA Licensees

By Editors | 10/08/2014

The financial planning arms of the Commonwealth Bank of Australia will be subject to new financial services license conditions, the Australian Securities and Investments Commission said.

Structural Regulation

New Zealand Regulator Issues First Equity Crowd Funding Licences

By Editors | 06/08/2014

The Financial Markets Authority has issued its first equity crowd funding licences under the Financial Markets Conduct Act 2013. PledgeMe and Snowball Effect are New Zealand’s first licensed providers of this new financial service.

Trading & Investment

Australian Regulator to Review Broker Dark Pools

By Editors | 30/07/2014

The Australian Securities and Investments Commission will conduct reviews of broker dark pools over the next 12 months, as regulators globally investigate alleged abuses in the operation of alternative trading venues.