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Regulation

Treasury rejects ‘impractical’ call for competition champion

The Productivity Commission’s call for a “competition champion” is “impractical” and “unlikely” to deliver the desired outcomes, according to the Treasury.

mortgagebusiness
ASIC reveals 6 key aspects of a ‘good’ financial system

The financial services regulator has outlined what it believes are the six “key components of a good financial system”.

mortgagebusiness
ASIC resistant to role as ‘competition champion’

ASIC has welcomed a Productivity Commission proposal to alter its mandate, but it is hesitant to become an enforcer of competition laws.

mortgagebusiness
Nominee for new ASIC deputy chair role named

The government has nominated barrister and Victorian Bar Council member Daniel Crennan to fill the newly created position of co-deputy chair at ASIC.

mortgagebusiness
APRA to face parliamentary scrutiny

The prudential regulator will front the House of Representatives Standing Committee on Economics as part of the committee’s review of its performance.

mortgagebusiness
PC chair takes aim at regulators over competition

“Fierce competition” in the Australian financial system is being “heavily controlled” by regulatory measures that favour stability, Productivity Commission chairman Peter Harris has warned

mortgagebusiness
APRA curbs thwarting price competition

Macro-prudential measures imposed by the regulator prompted the major banks to increase rates on their loan offerings, which could have offset the cost of the Major Bank Levy, an ACCC report ...

mortgagebusiness
Responsible lending — insights on evolving regulations

Countries around the world have started on this journey of financial protection and are enacting responsible and sustainable lending laws.

Manish Chopra, responsible lending, evolving regulations
ASIC report highlights financial literacy progress

The regulator has reported progress in its initiative to boost financial literacy amid growing concerns over financial stress.

mortgagebusiness
Regulator concedes comparison rates are ‘opaque’

ASIC has told the Productivity Commission that the comparison rates used for mortgages are “not a very good guide” for whether a rate is good or not, stating that it would be “broadly” in ...

mortgagebusiness
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