Regulation

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

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

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”.

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

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

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

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.

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.

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.

The prudential watchdog has rolled out its final guidelines for how banks should reward their bigwigs, with bonuses now needing to be tied to customer and risk management outcomes.