Events listed in Australia
APRA publishes assessment of macroprudential settings
ID 22045
The Australian Prudential Regulation Authority (APRA) has released an update on its assessment of macroprudential policy settings. The purpose of macroprudential policy is to mitigate risks to financial stability at a system-wide level, aimed at addressing risks to the financial system as a whole, rather than just focusing on individual institutions. APRA published a Macroprudential Policy Framework in 2021, which detailed the objectives, toolkit, ...
23-026MR ASIC to expand enforcement focus areas in the coming year
ID 21902
On 15 February 2023, the Australian Securities and Investments Commission (ASIC) issued a press release, informing about the expansion of its enforcement focus area in the coming year along its Enforcement Priorities for 2023, and further presenting its new Regulatory developments timetable. Indeed, „ASIC has warned businesses it will be targeting greenwashing, predatory lending and misleading insurance pricing promises this year, as part of ...
23-018MR ASIC calls for improved material business risk disclosure in annual reports
ID 21827
On 10 February 2023, the Australian Securities and Investments Commission (ASIC) issued a press release, reminding „company directors to ensure material business risks are adequately disclosed in annual reports, to better inform shareholders and prospective investors“. As a reminder, „the directors’ report of a listed entity must contain information that shareholders would reasonably require to make an informed assessment of the entity’s operations, financia ...
[Open – closing date: 03 March 2023] Token mapping
ID 21733
On 3 February 2023, the Australian Treasury started a consultation on token mapping, seeking to build a shared understanding of crypto assets in the Australian financial services regulatory context, and exploring how existing regulation applies to the crypto sector and inform future policy choices. Back in August 2022, the Australian Government announced token mapping – a foundational step in the Government’s multi‑stage reform agenda ...
APRA phases out aggregate Committed Liquidity Facility
ID 21388
On 9 January 2023, Australian Prudential Regulation Authority (APRA) published a letter, informing that the Committed Liquidity Facility (CLF) was fully phased-out. Indeed, since January 2015, those incorporated authorised deposit-taking institutions (ADIs) to which APRA applies the Basel III liquidity standards, have been required to hold high-quality liquid assets (HQLA) sufficient to withstand a 30-day period of stress under the liquidity coverage ratio (LCR) ...
FAR to display whether financial advisers can provide tax (financial) advice
ID 21377
On 6 January 2023, the Australian Securities and Investments Commission (ASIC) published a press release, informing about the fact that as of 1 February 2023, ASIC’s Financial Advisers Register (FAR), published on Moneysmart, „will display whether a financial adviser can provide tax (financial) advice services to retail clients“. „From 1 January 2022, Financial advisers who provide, or intend to provide, tax (financial) advice services ...