Regulation & Policy
The Standard - July 15
Published Fri 15 Jul
Welcome to your latest edition of The Standard with a curated snapshot of policy and regulatory updates from the past fortnight.
<p>With rate rises on both sides of the Tasman, it’s well worth catching up with our most popular webinar of the year from <strong><a href="https://www.finsia.com/news-hub/webinars/economic-update-dr-sarah-hunter-senior-economist-partner-kpmg" title="Dr Sarah Hunter"><span>Dr Sarah Hunter</span></a></strong> and her assessment of a soft landing for the economy – which aligns with RBA Governor Philip Lowe.<br /> <br /> But with unemployment falling to a 48-year low of 3.5% - as highlighted below - it’s hard to imagine anything other than seeing rates continue to rise.<br /> </p> <h3>FINSIA</h3> <p><a href="https://www.finsia.com/sites/default/files/2022-07/2022-07-11%20FINSIA%20Media%20Release.pdf">FINSIA welcomes Albanese Government Jobs and Skills Summit</a></p> <p><a href="https://www.finsia.com/media-releases">All FINSIA Media Releases</a></p> <h3> </h3> <h3>ACCC</h3> <p><a href="https://www.accc.gov.au/media-release/scams-robbed-australians-of-more-than-2-billion-last-year">Scams robbed Australians of more than $2 billion last year </a></p> <p><a href="https://www.accc.gov.au/media-release/scam-losses-to-culturally-diverse-communities-people-with-disability-and-indigenous-australians-almost-doubled-in-2021">Scams against those from culturally diverse backgrounds, people with disabilities and Indigenous communities cost $66 million. </a></p> <p><a href="https://www.accc.gov.au/media-release/payment-redirection-scams-cost-australian-businesses-227-million-last-year">Payment redirection scams cost Australian businesses $227 million last year </a></p> <h3> </h3> <h3>APRA</h3> <p><a href="https://www.apra.gov.au/news-and-publications/apra-authorises-iba-group-as-a-new-restricted-adi">APRA authorises IBA Group as a new Restricted ADI </a></p> <p><a href="https://www.apra.gov.au/news-and-publications/apra-strengthens-transparency-on-remuneration-and-bank-disclosures">APRA strengthens transparency on remuneration and bank disclosures </a></p> <p><a href="https://www.apra.gov.au/news-and-publications/apra-removes-allianz%E2%80%99s-additional-capital-requirement">APRA removes Allianz’s additional capital requirement</a></p> <h3> </h3> <h3>Appointments</h3> <p><a href="https://www.rba.gov.au/media-releases/2022/mr-22-19.html">Changes to Heads of Department in Economic and Financial Markets Groups at RBA </a></p> <p><a href="https://www.fma.govt.nz/news-and-resources/media-releases/fma-appoints-margot-gatland-to-head-of-enforcement/">FMA appoints Margot Gatland to Head of Enforcement </a></p> <h3> </h3> <h3>ASIC</h3> <p><a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2022-releases/22-173mr-asic-releases-guidance-for-superannuation-calculators-and-retirement-estimates/">Toolkits for consumers to prompt them to check their Super </a></p> <p><a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2022-releases/22-175mr-asic-helps-credit-providers-protect-victims-of-family-violence/">ASIC helps credit providers protect victims of family violence </a></p> <p><a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2022-releases/22-182mr-asic-makes-product-intervention-orders-for-short-term-credit-and-continuing-credit-contracts/">Product intervention orders for short term credit and continuing credit contract </a></p> <h3> </h3> <h3>ATO</h3> <p><a href="https://www.ato.gov.au/Media-centre/Media-releases/Taking-the-cryptic-out-of-crypto-this-tax-time/?utm_source=miragenews&utm_medium=miragenews&utm_campaign=news">Taking the cryptic out of crypto this tax time</a></p> <h3> </h3> <h3>Federal</h3> <p><a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/jobs-and-skills-summit-be-held-september">Jobs and Skills Summit to be held in September</a></p> <p><a href="https://www.abs.gov.au/media-centre/media-releases/housing-loan-commitments-partially-recover-may">Housing loan commitments partially recover in May</a></p> <p><a href="https://ministers.treasury.gov.au/ministers/stephen-jones-2022/media-releases/review-strengthen-super">Review to Strengthen Super</a></p> <p><a href="https://www.acma.gov.au/articles/2022-07/new-rules-fight-sms-scams">New rules to fight SMS scams</a></p> <p><a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Budget_Office/General_elections/Next_general_election/2022_Election_commitments_report">2022 Election commitments report</a></p> <p><a href="https://www.abs.gov.au/media-centre/media-releases/unemployment-rate-falls-35">Unemployment rate falls to 3.5%</a></p> <h3> </h3> <h3>Media Releases</h3> <p><a href="https://www.afca.org.au/news/latest-news/afca-spreads-flexible-parental-leave-over-two-years">AFCA spreads flexible parental leave over two years</a></p> <p><a href="https://www.sydney.edu.au/news-opinion/news/unpublished/trade-secret-protections-benefit-small-firms--consumers--researc.html">Proprietary knowledge protection benefits small companies and consumers</a></p> <p><a href="https://www.ausbanking.org.au/flood-affected-customers-encouraged-to-contact-their-bank/">ABA Urges those affected by floods to talk to their bank</a></p> <h3> </h3> <h3>New Zealand - Aotearoa</h3> <p><a href="https://www.rbnz.govt.nz/hub/news/2022/07/monetary-tightening-continues">Monetary tightening continues</a></p> <p><a href="https://fintechnz.org.nz/2022/07/05/fintech-in-nz-more-than-travel-gateways-opening/">FINTECH flourishing in NZ after borders reopen</a></p> <p><a href="https://www.fma.govt.nz/compliance/consultation/fa-code-standard-3-guidance/">FMA - Consultation: Code Standard three for financial advice </a></p> <p><a href="https://www.beehive.govt.nz/release/new-supermarket-watchdog-latest-action-give-kiwis-fairer-deal">New supermarket watchdog latest action to give Kiwis fairer deal</a></p> <p><a href="https://www.beehive.govt.nz/release/pilot-unlock-private-finance-industrial-businesses-going-green">Pilot to unlock private finance for industrial businesses going green </a></p> <p><a href="https://www.nzfilm.co.nz/news/olsberg-spi-report-economic-impact-aotearoa-new-zealand-screen-production-sector-released">Economic impact in the screen production sector of Aotearoa New Zealand </a></p> <p><a href="https://comcom.govt.nz/news-and-media/media-releases/2022/kinetic-cleared-to-acquire-nz-bus">Kinetic cleared to acquire NZ Bus </a></p> <p><a href="https://www.stats.govt.nz/news/household-net-worth-falls-in-march-quarter/">Household net worth falls in March quarter</a></p> <p> </p>