Compliance Regulations and Guidance Affecting your Industry

A proposal for a Directive released by the European Commission on the prevention of use of the financial system for the purpose of money laundering and terrorist financing.

The purposes of this Act are—

1. to detect and deter money laundering and the financing of terrorism; and
2. to maintain and enhance New Zealand’s international reputation by adopting, where appropriate in the New Zealand context, recommendations issued by the Financial Action Task Force; and
3. to contribute to public confidence in the financial system.

Accordingly, this Act facilitates co-operation amongst reporting entities, AML/CFT supervisors, and various government agencies, in particular law enforcement and regulatory agencies.

• promote the maintenance of a sound and efficient insurance sector; and
• promote public confidence in the insurance sector.

This document provides guidance to non-bank deposit takers in New Zealand in relation to the risk management programme requirements established under section 157M of the Reserve Bank Act 1989. Part 2 of this document notes some considerations in relation to risk management programmes and Part 3 provides some guidelines on how to interpret the main categories of risk set out in section 157M.

These regulations require deposit taking finance companies, building societies and credit unions in New Zealand to maintain a minimum capital ratio, and to limit the amount of credit they can provide to related parties.

This document sets out the methodology to be used by locally incorporated registered banks in New Zealand that have been accredited to use the internal models based approaches to calculating capital ratio requirements. This methodology is to be used for the purposes of determining these banks’ compliance with conditions of registration relating to capital and for disclosing information about capital.

This document sets out the methodology to be used by locally incorporated registered banks in New Zealand that have adopted the standardised approach for calculating capital requirements. This methodology is to be used for the purposes of determining these banks’ compliance with conditions of registration relating to capital and for disclosing information about capital.

Australia’s legal framework to detect and deter money-laundering and terrorism, namely, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) lays down the obligations that are supervised and regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

The Financial Services Authority (FSA) is a risk-based regulator and ARROW is the framework it uses to make risk-based regulation operational. ARROW stands for the Advanced, Risk-Responsive Operating Framework and covers all risks, firm-specific, thematic and internal.

'Internal Control: Guidance to Directors' ("the Turnbull guidance") sets out best practice on internal control for UK listed companies, and assists them in applying section C.2 of the UK Corporate Governance Code.

On December 20, 2011, the Federal Reserve proposed new rules that would strengthen regulation and supervision of large US bank holding companies and systemically important nonbank financial firms.

The Australian Prudential Standard 112 – Capital Adequacy: Standardized Approach to Credit Risk aims at ensuring that “ensure that an authorized deposit-taking institution holds sufficient regulatory capital against credit risk exposures.”

The Australian Prudential Standard 110 – Capital Adequacy aims at ensuring that “authorized deposit-taking institutions maintain adequate capital, on both an individual and group basis, to act as a buffer against the risks associated with their activities.”

Almost 30 European countries have adopted Common Reporting (COREP), the prudential reporting framework for credit institutions and some investment firms.  The EBA has made COREP the standardized reporting framework from 31 December 2012.

This template has to be used when reporting operational risk.

Almost 30 European countries have adopted Common Reporting (COREP), the prudential reporting framework for credit institutions and some investment firms.  The EBA has made COREP the standardized reporting framework from 31 December 2012.

This template has to be used when reporting market risk.

Almost 30 European countries have adopted Common Reporting (COREP), the prudential reporting framework for credit institutions and some investment firms.  The EBA has made COREP the standardized reporting framework from 31 December 2012.

This document explains the terms used in the COREP templates.

Almost 30 European countries have adopted Common Reporting (COREP), the prudential reporting framework for credit institutions and some investment firms.  The EBA has made COREP the standardized reporting framework from 31 December 2012.

This template has to be used when documenting changes.

Almost 30 European countries have adopted Common Reporting (COREP), the prudential reporting framework for credit institutions and some investment firms.  The EBA has made COREP the standardized reporting framework from 31 December 2012.

This template has to be used when reporting credit risk details.

Almost 30 European countries have adopted Common Reporting (COREP), the prudential reporting framework for credit institutions and some investment firms.  The EBA has made COREP the standardized reporting framework from 31 December 2012.

This template has to be used when reporting capital group solvency details.