Australia

Crypto / Digital Assets

Australian Court Rules Kraken Violated Regulatory Requirements

By Sanday Chongo Kabange | 26/08/2024

The court ruled that the crypto firm failed to comply with design and distribution obligations when offering a margin trading product.

Enforcement

ASIC Sets Out Strategic Priorities in New Corporate Plan

By Sanday Chongo Kabange | 26/08/2024

ASIC is taking aim at Australia’s private markets, which Chair Joe Longo said present an outsized risk to market integrity.

ESG / Sustainability

ASIC Publishes Findings from Anti-Greenwashing Surveillance

By Sanday Chongo Kabange | 26/08/2024

ASIC published findings, recommendations and good practice examples from its surveillance activities during the financial year 2023–2024.

Capital / Liquidity

APRA Increases Capital Add-on Imposed on ANZ Bank

By Sanday Chongo Kabange | 23/08/2024

APRA said several issues emerging in ANZ’s markets business have increased its “longstanding concerns” about the bank’s non-financial risk management.

Enforcement

NZ Court Fines Ex-Insurer for Disclosure Breaches

By Sanday Chongo Kabange | 23/08/2024

The High Court ordered former CBLC Managing Director Peter Harris to pay NZD 1.4 million for breaching financial market rules in a case brought by the FMA.

APRA Finalises Cross-industry Standard on Defined Terms

By Sanday Chongo Kabange | 23/08/2024

The new standard, CPS 001, will act as a central glossary for ADIs and insurers to promote more consistent definitions going forward.

Big Picture

Australian Mutual Banks Face Consolidation Pressure: S&P Global Ratings

By Manesh Samtani | 22/08/2024

S&P Global Ratings suggests that as many as 40 mutual banks could disappear in the coming years, leaving fewer than 10 significant players in the market.

Capital / Liquidity

NZ Government Releases Final Report on Banking Competition

By Ranamita Chakraborty | 22/08/2024

The government said it will act on all 14 recommendations in the report, including measures to speed up open banking implementation.

ESG / Sustainability

ASX Commences Trading in New Natural Gas Futures Contract

By Sanday Chongo Kabange | 21/08/2024

ASX said the Wallumbilla Natural Gas Futures contract will help investors hedge energy transition risks and more confidently invest in decarbonisation initiatives.