Regulation

Brokers have hit back at fraud scrutiny in the third-party channel following allegations of misconduct.

The Federal Court has ordered that payday lenders Cigno Australia and BSF Solutions pay a combined sum of $7 million for engaging in credit activity without a licence and charging prohibited ...

An industry body has warned that changes to capital gains tax and negative gearing policies could be “dangerous” to investors, eroding confidence and slashing rental supply.

The federal government has released draft legislation in consultation to clarify capital gains tax rules for foreign investors selling assets linked to Australian land and resources.

Brokers have hailed the South Australian government’s decision to abolish stamp duty for over-60s looking to downsize as a “step in the right direction” for housing supply.

A home buyer has narrowly avoided losing $100,000 to a scammer impersonating his solicitor, with a bank worker acting quickly to stop the payment.

Industry groups have warned that cuts to capital gains tax discounts or negative gearing could dampen investor activity, constrain supply, and add further pressure to the rental market.

Consumers have been warned that scammers are posing as brokers and financial service providers in a new wave of personal loan scams.

While recent reports of large-scale fraud have raised concerns about a surge in misconduct, aggregator Connective says its data tells a different story.

Three people involved in promoting “interest-free mortgages” have received a combined sentence of more than 13 years’ imprisonment after being convicted of dishonesty offences.