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Regulation

Regulators not the sole stewards of good banking culture: APRA
15 October 2018
mortgagebusiness

The Australian Prudential Regulation Authority has responded to the Hayne commission interim report by saying that a good banking system is produced by good bankers and “can’t be left to ...

Regulation not the solution to misconduct: Westpac CEO
12 October 2018
Westpac

New regulations and tougher sanctions alone will not “solve the risk of poor conduct”, and may have unintended consequences amid a slowdown in the credit and housing markets, according to ...

RC report slams ASIC response to misconduct
2 October 2018
ASIC, misconduct, report, criticised

The corporate regulator has been criticised for its response to misconduct in the financial services royal commission’s interim report.

Inaugural CEO appointed to regulatory association
28 September 2018
mortgagebusiness

A regtech industry association has announced the appointment of its inaugural CEO and two new directors, while also announcing that Commonwealth Bank has joined its ranks.

Regulators ‘have a case to answer’
27 September 2018
mortgagebusiness

The federal Treasurer has raised questions concerning the ability of Australia’s regulators to address misconduct in the financial sector.

ASIC mulls enforcement amid ‘unacceptable’ delays
26 September 2018
delay, time, clock, slow

The corporate regulator has slammed the “inadequate” compliance systems of the financial services institutions, claiming that they’ve been “too slow” to respond to breaches, and that it is ...

ASIC urges industry to provide business metrics
25 September 2018
mortgagebusiness

The corporate watchdog is urging ASIC-regulated entities to submit business metrics into a new portal ahead of an impending deadline.

ASIC urges industry to register with AFCA
21 September 2018
mortgagebusiness

The corporate watchdog is urging financial services and credit licensees to prioritise registering with AFCA as they would otherwise be in breach of the law.

ASIC deputy chair resigns
18 September 2018
ASIC, Peter Kell, resign, deputy chair

The federal government has announced the resignation of the corporate regulator’s deputy chair, Peter Kell, following seven years of service.

Regulator seeks public input on Consumer Data Right rules
13 September 2018
mortgagebusiness

Australia’s competition watchdog is seeking public feedback on the Consumer Data Right rules, which will centre around banking.