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Australia
Market Infrastructure
ASIC Finds Lack of Maturity in Banks’ Scam Strategies
By Sanday Chongo Kabange | 21/08/2024
ASIC conducted a review of scam strategies and governance at 15 non-big-four banks, finding a “less mature approach” than expected.
Capital / Liquidity
RBNZ Consults Additional Standards for New DTA Regime
By Sanday Chongo Kabange | 21/08/2024
RBNZ is consulting on standards covering areas such as governance, lending, risk management and operational resilience.
Fintech / Regtech
Australia Introduces Policy for Responsible AI Use in Government
By Ranamita Chakraborty | 21/08/2024
The government will issue a standard for AI transparency statements and further guidance on additional measures over the coming months.
AML / KYC
ASIC Has Shut Over 7,300 Scam Websites in One Year
By Sanday Chongo Kabange | 20/08/2024
Since July 2023, ASIC has taken down over 5,530 fake investment platform scams, 1,065 phishing scam hyperlinks and 615 crypto investment scams.
Enforcement
ASIC Stands Firm Despite Mounting Criticisms of Failures
By Natasha Teja | 20/08/2024
An inquiry into ASIC’s capacity and capability identified a need for reforms, but these appear to be contingent on next year’s elections.
Market Infrastructure
ASIC Extends Reference Checking Protocol to Mortgage Aggregators
By Sanday Chongo Kabange | 19/08/2024
The updated protocol enables financial advisers and mortgage brokers to request references about prospective representatives from mortgage broking intermediaries.
Market Infrastructure
ACCC Greenlights Experian Takeover of Rival illion
By Editors | 19/08/2024
The ACCC said the merger will not impact competition in the consumer credit reporting market because of the dominance of market leader Equifax.
Fintech / Regtech
Getting Your Ducks in a Row for APAC Rules Rewrites
By Priya Kundamal | 19/08/2024
DTCC’s Priya Kundamal discusses the lessons learned from markets that have implemented the first phase of changes to derivatives reporting rules.
Australia Launches Inquiry to Improve Access to Home Loans
By Ranamita Chakraborty | 16/08/2024
Senator Andrew Bragg said the inquiry will examine bank lending practices and barriers that hinder access to finance for first home buyers.
Fintech / Regtech
APRA Issues Guidance to Address Cyber Control Weaknesses
By Sanday Chongo Kabange | 16/08/2024
APRA has identified issues relating to security in configuration management, privileged access management, and security testing.
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