Regulation

After nine weeks of hearings, the Robodebt royal commission is over. But the mental health impact of the controversial government scheme is still being felt.

Treasurer Jim Chalmers has blocked a Senate order calling for the release of confidential findings of misconduct against ASIC deputy Karen Chester. 

ASIC has taken two small-business lenders to court for unlicensed credit activity and charging an annual interest rate of over 48 per cent.

Aggregators and broker associations have been urgently engaging with politicians to flag concerns with NSW Revenue’s stance on payroll tax.

The banking code committee has announced banks reported an almost 40 per cent drop in breaches of the banking code.

COBA has called for the federal government to use its pending budget to develop a road map for financial services regulators.

The 3.0 per cent loan serviceability buffer and existing macroprudential policy settings are “appropriate”, APRA has concluded in an assessment of its policy settings.

The Federal Court has found that ClearLoans has breached the Credit Act and ordered over $6 million in penalties.  

AUSTRAC has partnered with a UK counterpart to fight fraud, the financial intelligence agency has announced.

In submissions published on the Treasury, the major banks, excluding NAB, have called for more regulations around BNPL providers.