The Australian corporate regulator has signed a co-operation agreement with Indonesia’s financial services authority, Otoritas Jasa Keuangan (OJK), to “promote innovation in financial services in their respective markets”.
The final report of Stephen Sedgwick’s review of retail banking remuneration has failed to find grounds for an “outright ban on all product-based payments” – but payments based solely on sales targets will end.
Bank lending to property investors has increased steadily since early 2016 despite efforts to tighten lending standards, says the Reserve Bank of Australia.
Australian banks will be required to limit their exposures to unrelated counterparties to 25 per cent of Tier 1 Capital as APRA seeks to reduce "contagion risk".
Three of Australia's big four banks have given their 'in principle' support for the creation of an ASIC product intervention power – albeit with a long list of exemptions.
Synchron selects new state manager
Fitzpatricks names new Melbourne advisers
Former AMP manager joins Evermore
Australia must embrace open APIs
French elections have Europe spooked
Making the argument for alpha