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Briefs: Payments review delay, AMP withdraws guidance

The RBA's Review of Retail Payments Regulation is on hold, maybe for a year, with the bank saying it "now expects that it will be completed in 2021." The RBA said "this decision is intended to reduce the demands on industry stakeholders at a time when they are focused on dealing with the impact of COVID-19." AMP withdrew earnings guidance yesterday "due to the uncertain environment" but confirmed that its asset sales, business restructuring and remediation program were all still on track. It expects to complete the sale of AMP Life by June 30 and the divestment process for the New Zealand wealth business continues. The "re-platforming" of the AMP Bank and its integration into wealth management will be completed this year.

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