New banking requirements wouldn't have helped Xinja
APRA can't avoid future failed banks like Xinja entirely, and nor should it if it wants to increase competition, Volt says.
Source: businessinsider.com.au
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Australian Financial Services Regulatory Update - February 2021 | Jones Day
This edition of the Update covers: Recent legal and regulatory developments, including the release of APRA's policy and supervision priorities for 2021, the launch of APRA's Cyber Security Strategy 2020 – 2024, Australian regulatory support for the ISDA IBOR Fallbacks Protocol and Supplement, and Australia's renewed focus on sanctions; Two recent Federal Court decisions which support ASIC's position on obligations to comply with ASIC notices and to substantiate any claims for legal professional privilege; The continuing fallout of the Financial Services Royal Commission and the recent case...
Source: jdsupra.com