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Regulation

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.

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.