institutions will remain in the spotlight this year, following the first
concrete indication of wide-ranging legislative reforms to the regulation of
The Financial Markets (Conduct of Institutions) Amendment Bill,
which received its first reading in Parliament on 12 February 2020, proposes a
new conduct regulation regime that will affect banks, insurers, non-bank
deposit takers and intermediaries.
The Bill highlights
a number of new areas that will now be subject to regulatory scrutiny. As
introduced, the bill proposes a far reaching set of new systems and controls
requirements and flags the possibility of incentive compensation being subject
to detailed regulatory restrictions. The legislation will not be the last word,
regulations will play a significant part in detailing many aspects of the
We take a look at
the key features of the proposed regime and highlight the practical issues
worth considering. We are also in the process of preparing our submission on
the Bill (submissions close on 26 March 2020). Please contact a member of our
Conduct Regulation team if you would like to discuss our insights on the Bill
or the content of your own submission.
Click here to download the report, or read below.
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.