Regulation

Loan Market payroll tax ruling handed down
15 April 2024

The Supreme Court of NSW has ruled on the application of payroll tax to certain brokers, setting a precedent that could reverberate throughout the industry.

ACCC welcomes merger rule changes
10 April 2024

Mergers will be approved within 30 working days and follow a single decision-making process as part of new merger reforms, which the ACCC has welcomed.

Government warns market about tax scams
8 April 2024

Tax refund scams have ballooned, according to the Albanese government, with a warning issued for consumers to be vigilant.

Government passes foreign investor fee legislation
5 April 2024

The Property Council of Australia (PCA) has warned that the fee increase could put the government’s housing targets “at risk”.

HSBC Bank pays $33k in alleged CDR breach penalties
2 April 2024

The non-major bank has paid penalties following two infringement notices from the ACCC.

Government introduces legislation to ‘modernise’ financial system
2 April 2024

The federal government has introduced new legislation to bolster regulatory arrangements for the country’s financial market infrastructure.

‘Time is right’ for government-backed RMBS: Greg Medcraft
28 March 2024

The AFG chairman and former ASIC chair says the time is now right to bring about the competition inquiry’s ‘compelling’ recommendation for a public RMBS.

Mortgage changes recommended by economics committee
27 March 2024

The House standing committee on economics has released its Better Competition, Better Prices, putting forward a range of recommendations on mortgages.

APRA announces system-wide stress test
27 March 2024

The financial system will undergo its first system-wide stress test in 2025, the prudential regulator has announced.

ANZ settles credit card class action
26 March 2024

The major bank has moved to settle a class action lawsuit from 2021.