Regulation

The government has commenced a review of the financial services regulator’s funding model.

Scams involving investor bonds tripled during the first six months of the year, with rising interest rates tipped as one explanation.

The watchdog has utilised its design and distribution obligations powers for the first time, placing interim stop orders on three financial firms.

Wayne Byres has announced his intention to step down from his role as chair of the prudential regulator from October. 

Members of the banking and broking industry have welcomed the Assistant Treasurer's confirmation that responsible lending obligations will not be repealed.

New Zealand’s central bank has issued a formal warning to Bank of New Zealand over its failure to correctly report the location of 50,000 cash transactions.

The Bank of Queensland has paid a penalty of $133,200 for allegedly breaching the consumer data right rules by failing to provide a service enabling consumers’ data to be shared.

Labor was “gob-smacked” with proposals to repeal responsible lending obligations, with Stephen Jones MP saying the Albanese government will not be revisiting the matter.

The retail credit association’s next chief executive has been revealed, with chair Peter Wilson appointing Elsa Markula to the role.

APRA has told the banks how they need to treat the reporting and risk management for loans under the government’s expanded Home Guarantee Scheme.