Regulation

The Australian government has published the draft legislation that will underpin the Australian Securities and Investments Commission’s (ASIC) new industry funding model.

Detectives are appealing for information that may assist an investigation of allegations of a multimillion-dollar corporate fraud involving a former NAB “supplier”.

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

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

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

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

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

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

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 ...

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