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Regulation

regulation

09 August 2019 • By Sarah Simpkins • 1 min read

Companies inaccurately assessing asset values: ASIC

A number of companies have continued to make “unrealistic and unsupportable” assumptions about future cash flows, according to ASIC’s review of 125 ...

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APRA fines Westpac for failing to meet reporting requirements

APRA has fined Westpac and two of its subsidiaries for failing to meet their legal obligations to report data to APRA.  Westpac, along with St ...

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Markets Disciplinary Panel streamlined by ASIC

ASIC has updated its regulatory guidance on the operation of the Markets Disciplinary Panel to simplify and streamline it. The MDP, which acts ...

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APRA on track to deliver royal commission recommendations

APRA has provided a six-month update on the delivery of the royal commission recommendations and has advised it is on track to meet its deadlines

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Government launches inquiry into reducing red tape

The Business Council of Australia has welcomed the Morrison government’s announcement to establish a Productivity Commission review into streamlining ...

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Government expands financial services inquiry

The Coalition government has expanded the inquiry into the financial services sector and the royal commission implementation. Treasurer Josh ...

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Big four and AMP fork out $120m for poor advice

Australia's five largest banking and financial services institutions have paid a total of $119.7 million in compensation as at 30 June 2019 to ...

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Consumer Data Right Bill passes

The Consumer Data Right Bill has passed both houses in parliament, with the Australian Banking Association (ABA) calling it a win for competition

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APRA stakeholders approve regulatory approach

A survey undertaken by APRA has found that the authorities’ regulatory and supervisory approaches are having a positive industry impact

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Super trustees warned against influencing employers

ASIC has cautioned superannuation trustees against swaying employers in their choice of default super, with heavier penalties now in place for ...

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