Regulation

The ASIC commissioner has revealed that he was unaware of the government’s proposal to scrap responsible lending laws until it made the announcement last month.

Illion’s bank statements and data provider and its credit reporting company have been made accredited data recipients under the Consumer Data Right. 

ASIC deputy chair Daniel Crennan QC has resigned from his role following Friday’s revelations that the regulator may have incorrectly paid $70,000 worth of his rental costs.

The financial services regulator has acknowledged the “totally unacceptable” delay it took in remedying breaches of remuneration limit, which has led to the temporary departure of ASIC chair ...

The Federal Court has ordered Westpac to pay an agreed $1.3 billion penalty for breaching anti-money laundering and counter-terrorism financing laws.

The financial institution has been sentenced in Sydney’s Downing Centre Local Court on charges brought by ASIC relating to client money offences.

A debt relief company has been at the receiving end of interim court orders and injunctions for providing unlicensed financial services.

Approximately 1,800 consumers will be remediated more than $4 million and receive interest rate reductions from Volkswagen Financial Services Australia as part of a court enforceable ...

The Federal Court has ordered a big four bank to pay a $10-million penalty after finding that it breached its licensing obligations in respect of fees charged to retail and business banking ...

Lenders have received best practice guidance from the prudential regulator regarding the management of loans on repayment holidays.