The asset-backed securities in Australia and New Zealand rated by Standard & Poor's continued to perform well in the first quarter of 2016, the agency reported. Arrears remained relatively low across all rated transactions, with small increases compared with the previous 12 months and the analysis is that increases "were mostly driven by the continued paydown of the asset pools, meaning the dollar values of arrears remain broadly constant, but rise marginally over time as a proportion of the total pools outstanding." Most of the collateral pools that have experienced net losses to date have levels that are tracking at or below one per cent, S&P stated. ASIC yesterday published its third report on regulatory outcomes in relation to: Australian financial services applications; Australian credit licence applications; liquidator registration applications; and company auditor and approved SMSF auditor registration applications. ASIC assessed approximately 1,879 applications, with 35 per cent relating to a new licence application and the remaining 47 per cent relating to variations to existing licence; and 18 per cent related to professional registration (liquidators and auditors). ASIC deputy chairman Peter Kell said ASIC also had a focus on "licensing issues in the broader fintech sector, including marketplace lending, digital (robo) advice and crowd sourced funding."