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21 June 2023 • By Maja Garaca Djurdjevic • 1 min read

ASIC accused of ‘secrecy’ and ‘obfuscation’ by Senate committee

Liberal Senator Andrew Bragg has accused ASIC of being “addicted” to secrecy and obfuscation. The corporate regulator has faced accusations from ...

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Macquarie delivers ‘AI-first’ digital banking capabilities amid regulatory concern

The bank is set to bring “hyper-personalised” experiences to its retail banking customers, while ASIC has made it clear that the safe usage of AI is a ...

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ASIC warns of AI FOMO, flags regulation

ASIC chair Joe Longo says that with AI adoption surging in wholesale markets, there is a real danger that entities could rush too fast without proper ...

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Unprecedented wave of wealthy individuals set to flock to Australia in 2023

Australia is expected to welcome 5,200 high-net-worth individuals in 2023. A new Wealth Migration Report composed by Henley & Partners has ...

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ASFA, AIST seek greater supervisory levy transparency

AIST and ASFA have both called for more transparency around the Financial Institutions Supervisory Levies. In response to the Treasury consultation ...

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Regulators reviewing crisis management framework

Australia’s regulatory institutions are assessing the financial system’s preparedness for a major shock to the banking system amid ongoing stability ...

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ASIC announces cyber resilience survey

The corporate regulator has launched a survey to measure cyber resilience in Australia’s corporate and financial markets. The Australian Securities ...

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Banks urged to ‘justify’ exceptions to lending guardrails

The prudential regulator has reinforced home loan serviceability standards as banks increasingly apply for exceptions amid fears borrowers have been ...

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Economists foresee increased likelihood of recession

Following the RBA’s latest warning that the narrow path to lower inflation could get bumpy, economists have revised their projections, foreseeing an ...

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Suncorp states its case ahead of ACCC decision on ANZ merger

The diversified financial services business has released its official response to ACCC concerns over the proposed acquisition of its banking division ...

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