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Regulation

Regaining trust in financial sector ‘not the regulator’s job’: APRA
7 September 2018
mortgagebusiness

The prudential regulator’s chair has told industry leaders that the responsibility of regaining the public’s trust in the financial sector ultimately falls upon the industry, not the ...

New Treasurer appoints ASIC members
3 September 2018
mortgagebusiness

New Treasurer Josh Frydenberg has announced the appointment of two full-time members to ASIC.

Reverse mortgage risks not being explained to seniors: ASIC
29 August 2018
ASIC, seniors, Australian, retirement, mortgage risks

Reverse mortgages can help seniors improve quality of life after retirement, but there are also long-term risks that lenders are failing to explain to retirees, the corporate regulator has ...

Banks launch campaign in plea for ‘proportionate regulation’
23 August 2018
Customer Owned Banking Association, #MoreThan4, Parliament House in Canberra

A banking association has taken its fight to Canberra, calling for a “proportionate regulatory regime” through the launch of a new campaign.

Non-majors warn against further blanket regulation
21 August 2018
Warning, red tape, blanket regulation, lenders, Grant Thornton

Smaller lenders are likely to bear the brunt of further regulation introduced amid heightened industry scrutiny, according to a banking industry association.

Second APRA deputy chair legislated
16 August 2018
APRA, deputy chair, John Lonsdale

The government has passed legislation that will create the previously announced position of co-deputy chair.

Regulators consult on the creation of a global fintech sandbox
10 August 2018
mortgagebusiness

Australia’s corporate watchdog has joined 11 other regulators worldwide to consult on the proposed creation of a new Global Financial Innovation Network, which would act as a global fintech ...

Former Treasury secretary joins AMP board
8 August 2018
AMP, John Fraser

Former Treasury secretary John Fraser will take up a position on AMP Limited’s board from next month and acting CEO Mike Wilkins could remain in his role until the end of the year, the ...

‘Corporate cops’ will proactively address misconduct: Treasurer
8 August 2018
corporate cops, warning sign

Integrating “corporate cops” into financial institutions is about ensuring regulators are immersed in the communities they’re regulating, federal Treasurer Scott Morrison has said.

ASIC to embed staff within big four and AMP
7 August 2018
ASIC, AMP, big four banks, staff, misconduct

The government is giving ASIC a further $70 million to combat misconduct in the financial services sector, including $8 million to embed staff into the big four banks and AMP.