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Regulation

regulation

13 November 2018 • By Eliot Hastie • 1 min read

APRA reviewing approach to enforcement action

APRA has announced the terms of reference for the upcoming review that will examine the regulator’s enforcement strategy. APRA established the ...

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APRA to enforce Murray Inquiry recommendation

APRA has proposed changes to the application of the capital adequacy framework for authorised deposit-taking institutions to support orderly ...

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Westpac fined $3.3m for rate rigging

Westpac has been ordered by the Federal Court of Australia to pay a pecuniary penalty of $3.3 million for contravening s12CC of the ASIC Act through ...

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Regulatory reform next on royal commission agenda

The upcoming round of public hearings for the financial services royal commission will focus on misconduct and conduct falling below community ...

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Industry must take more responsibility: APRA

The Australian Prudential Regulation Authority has released its submission to the Hayne royal commission interim report and has told the industry to ...

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APRA under pressure to focus on enforcement

The prudential regulator is bolstering its resources and rethinking its stance on enforcement following heavy criticism during the Hayne royal ...

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ASIC, APRA issue new reporting standard

The corporate and prudential regulators have released a new reporting standard that will make it compulsory for life insurers to report data on claims ...

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10 years imprisonment for misconduct

The government is set to introduce tougher new criminal penalties for misconduct in the financial sector with individuals to face ten years ...

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ASIC provides update on ‘fees for no service’

The corporate regulator has provided an update of an enforceable undertaking on two major bank financial advice subsidiaries regarding its conduct ...

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ASIC, ACCC given stronger unfair contract powers

The government has assigned both the corporate and competition regulators greater investigative powers in assessing the fairness of standard contract ...

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