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Regulation

ASIC clarifies deferred sales rules for add-on insurance

The financial services regulator has released examples of how the incoming rules for add-on insurance will work for CCI, among other credit insurances.

ASIC clarifies deferred sales rules for add-on insurance
Westpac sale of Pacific businesses stymied by ICCC

The major bank has said that it is committed to the sale of its Pacific businesses despite a competition regulator knocking back their proposed acquisition.

Westpac sale of Pacific businesses stymied by ICCC
Labor abandons negative gearing reforms

The federal opposition has pledged that it will maintain the government’s existing regimes for negative gearing and capital gains tax, ahead of the next election.

Labor abandons negative gearing reforms
Mortgage costs up 130% in 3 decades: Per Capita

Home ownership costs jumped by 130 per cent over two generations, with Gen X spending a quarter of their income servicing their loan, according to research.

Mortgage costs up 130% in 3 decades: Per Capita
APRA issues capital framework changes update

APRA has intended to change the definition of long-term interest-only home loans following industry feedback to proposed changes to its ADI capital framework.

APRA issues capital framework changes update
NHFIC backs stamp duty removal

Axing stamp duty would lead to more efficient use of Australia’s housing stock and reduce volatility for state and territory revenue, according to a report by the National Housing Finance ...

NHFIC backs axing stamp duty
ASIC releases dispute resolution guide

The regulator has published its draft standards for internal dispute resolution reporting, which will be tested in a pilot across the financial industry in coming months.

ASIC releases dispute resolution guide
Deferrals not needed to be treated as arrears: APRA

The prudential regulator has announced regulatory relief for ADIs that are offering temporary measures to customers impacted by lockdowns.

Deferrals not needed to be treated as arrears: APRA
Major bank extends foreclosure moratorium

A big four bank has said that it will extend its freeze on foreclosures if customers are unable to meet their home loan repayments.

Major bank extends foreclosure moratorium
DDOs extended without consultation: COBA

There was no consultation on expanding the design and distribution obligations to home loans and other consumer credit products, a banking group has said.

DDOs extended without consultation: COBA
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