Australian regulator revokes BNP Paribas Securities Services’ ADI licence
The Australian Prudential Regulation Authority (APRA) has revoked BNP Paribas Securities Services‘ authorised deposit-taking institution (ADI) licence under the Banking Act 1959.
This local action is at the request of the entity and is in line with a restructure of the BNP Paribas Group. BNP Paribas will continue to remain an ADI in Australia.
APRA regularly updates the list of ADIs. In September, the regulator granted IN1Bank Ltd a second extension of its licence to operate for a limited time as a restricted authorised deposit-taking institution (Restricted ADI) under the Banking Act 1959.
Recently, APRA has revoked Volt Bank Limited’s ADI licence under the Banking Act 1959. Volt completed its return of deposits process in July. The return of deposits began on 29 June when Volt announced its decision to cease being a bank and hand back its ADI licence to APRA.