Regulation

The prudential and financial services regulators have announced new regulatory approaches given the ongoing COVID-19 pandemic, including attitudes to repayment holidays.

The government has remained quiet on its surplus intentions, as Australia’s economy feels the pain caused by the worldwide outbreak of coronavirus.

The government has released the exposure draft for regulatory amendments that will support and give effect to the full rollout of mandatory consumer credit reporting.

The prudential regulator has announced that it will commence publishing more “in-depth” home lending statistics collected from regulated entities. 

ASIC and APRA have provided an update on their actions to strengthen their internal accountability regime as part of their strategic responses to the banking royal commission’s ...

The federal government has released its mid-year budgetary update, in which it has lowered its forecasts for GDP growth and reported a $32.6-billion decline in projected revenue.

The prudential regulator has delayed implementation of product responsibility requirements in a bid to “maximise effectiveness” and “minimise costs”.

The prudential regulator has granted a restricted banking licence to a Sydney-based challenger bank.

ASIC has issued new guidance regarding the record-keeping responsibilities of lenders and brokers, warning that reporting failures could lead to non-compliance with NCCP.

ASIC has outlined the “reasonable steps” that a credit provider can take when using a benchmark to assess a borrower’s expenses.