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Regulation

ASIC clamps down on foreign financial institution
16 June 2020
ASIC

The corporate regulator has imposed new licensing conditions on an internationally based financial institution after it deposited funds into unauthorised accounts.

Fintech regulatory sandbox finalised
1 June 2020
Fintech regulatory sandbox finalised

The government has announced that it has now finalised its “enhanced” regulatory sandbox, allowing fintechs to test the viability of new products without first holding the required licences

Crisis to ‘precipitate enduring change’: APRA
29 May 2020
APRA chair Wayne Byres

It would be “dangerously naive” to expect the operating environment to “go back to normal” once the COVID-19 crisis abates, APRA chair Wayne Byres has warned.

APRA lauds ‘virtue’ of bank regulation
22 May 2020
APRA chair Wayne Byres

Prudential regulations in the financial services sector have been a “virtue” that has allowed banks to play a “shock-absorbing” role during the COVID-19 crisis, APRA chair Wayne Byres has ...

GDP to rise by $9.4bn a month: Treasury
13 May 2020
mortgagebusiness

The three-stage easing of social distancing restrictions will provide an immediate boost to GDP, the Treasurer has said.

APRA relaxes mortgage serviceability guidance
8 May 2020
APRA relaxes mortgage serviceability guidance

The prudential regulator has eased its responsible lending guidance around the changing of loan terms for existing mortgage customers amid the COVID-19 crisis. 

Treasurer puts $4bn price tag on lockdown measures per week
7 May 2020
Treasurer puts $4bn price tag on lockdown measures per week

The coronavirus restrictions could cost the economy $4 billion for every extra week they remain in place, Treasurer Josh Frydenberg said, predicting a significant drop in GDP of 10 to 12 per ...

ASIC publishes outcomes of enforcement action
30 April 2020
ASIC publishes outcomes of enforcement action

Almost $13 million in civil penalties were imposed and 279 criminal charges laid in the second half of 2019 off the back of enforcement action from ASIC.

APRA announces SME scheme reporting standards
20 April 2020
APRA

The banking regulator has announced new reporting requirements for lenders participating in the government’s SME finance scheme.

ASIC defers several mortgage projects amid COVID-19
15 April 2020
ASIC defers several mortgage projects amid COVID-19

The financial services regulator has revealed which projects it will be deferring to focus on the impact of COVID-19, including several mortgage data projects.