Regulation

The big four bank recorded $2.56 billion of profit in the financial year 2020, a 47 per cent drop compared with last year, largely due to COVID-related challenges.

The major bank’s FY20 cash profit has plummeted 42 per cent on the prior comparable period, driven by full-year credit impairment charges due to the impact of COVID-19.

A former property developer has been found guilty of fraud in relation to obtaining funds from SMSF investors following an ASIC investigation.

The big four bank has signed agreements to settle two class actions against it in the US in relation to trading activity and the AUSTRAC fallout.

While some ASIC commissioners first learned about the proposal to scrap responsible lending laws after it was announced, APRA knew about the move in August and was consulted on his opinion ...

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.