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Regulation

Big four likely to dampen competition: ACCC

The watchdog’s chair has said it is not in the interest of the big four banks or their shared owners to fire up rivalry between them.

Big four likely to dampen competition: ACCC
Regulator warns slow movers in open banking

Banks that have not met their open banking obligations by November will risk facing enforcement action, the ACCC has cautioned.

Regulator warns slow movers in open banking
Former Macquarie Bank CEO appointed FRAA chair

The inaugural Financial Regulator Assessment Authority members have been announced, with the former chief executive of Macquarie Bank Limited serving as chair.

Former Macquarie Bank CEO appointed FRAA chair
APRA watches for lockdown impact on mortgage rise

The housing market boom and economic rebound grew loan books in the three months to June, but APRA has warned the ongoing lockdowns have made the outlook “uncertain”.

APRA watches for lockdown impact on mortgage rise
RBA reveals cash rate call

The Reserve Bank has declared its September rate decision, amid ongoing lockdown restrictions.

RBA reveals cash rate call
1.2m Australians scammed in the past year

 COVID-19 has escalated scam prevalence, with more than 1.2 million Australians affected in the last 12 months, according to a major bank.

1.2m Australians scammed in the past year
Government opens consultation on digital signatures

The government has invited feedback on allowing digital signatures and electronic meetings, seeking to make its temporary COVID relief measure permanent.

Government opens consultation on digital signatures
Largest banks testing climate risks across loans

The five largest Australian banks are midway through conducting their first climate change stress tests, with APRA releasing details on how they’ll test their loan books.

Largest banks testing climate risks across loans
Government welcomes ASIC red tape reduction mandate

The government has applauded ASIC’s plans to form a new unit focussed on cutting regulatory costs for businesses, as it has slashed levies for financial advisers.

Government welcomes ASIC red tape reduction mandate
Infrastructure costs shrink housing affordability: NHFIC

What local councils and state governments charge developers for infrastructure could add up to $85,000 to the costs of building a new home, according to new research.

Infrastructure costs shrink housing affordability: NHFIC
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