Regulation

NHFIC backs stamp duty removal
21 July 2021
NHFIC backs axing stamp duty

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 ...

ASIC releases dispute resolution guide
20 July 2021
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.

Deferrals not needed to be treated as arrears: APRA
20 July 2021
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.

Major bank extends foreclosure moratorium
19 July 2021
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.

DDOs extended without consultation: COBA
19 July 2021
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.

Government moves on royal commission reforms
16 July 2021
Government moves on royal commission reforms

The government has released exposure draft legislation aiming to implement seven further recommendations from the banking royal commission.

Forum Group in administration as Westpac case deepens
16 July 2021
Forum Group in administration as Westpac case deepens

Administrators have commenced closing down subsidiaries within a group of companies involved in an alleged $200 million fraud against Westpac, with the Federal Court ordering the ...

APRA primes banks for sub-zero rates
13 July 2021
APRA primes banks for sub-zero rates

The prudential regulator has released draft expectations, which could require banks to prepare for zero and negative interest rates.

MP quizzes banks on super for housing
8 July 2021
MP quizzes banks on super for housing

Liberal MP Tim Wilson has grilled the major banks on what regulatory changes would be needed to allow first home buyers to drain their superannuation for house deposits.

RBA deputy governor reappointed
8 July 2021
RBA deputy governor reappointed

Dr Guy Debelle has been reappointed as the central bank’s deputy governor for another five years, effective in September.