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Regulation

regulation

20 August 2018 • By James Mitchell • 1 min read

Time, money and ASIC ‘impeded’ APRA

The main issue with taking legal action against rogue super funds is that the process costs time and money, APRA has told the royal commission

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ASIC admits it mishandled grandfathering

ASIC deputy chair Peter Kell has conceded that the grandfathering of commissions is not at all in the interests of consumers, and a “policy level” ...

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Government consults on open banking draft legislation

The government has released exposure draft legislation for the Consumer Data Right, which will give users the ability to grant third party providers ...

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Regulators could ‘break up’ IOOF

Friday’s “blow-torch” royal commission hearings could result in vertically integrated firms like IOOF being dismantled by the regulator, says ...

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Banking sector calls for even playing field

Leaders in the Australian banking sector would advise the government to create a fairer playing field for both smaller and bigger banking entities – ...

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Banks must do more to curb adviser fraud: ASIC

ASIC has outlined a set of actions for banks to better protect customers against advisers carrying out fraud on customers’ accounts. ASIC has ...

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ASIC request to embed staff at major banks approved

The federal government has confirmed it will provide ASIC with additional resources to further monitor the big four banks and AMP. Treasurer Scott ...

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MLC kept super members in the dark on fees

MLC and its trustee, NULIS, failed to tell superannuation members they could dial back their “plan service fees” to zero, the royal commission has ...

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Follow the royal commission live with InvestorDaily

Read minute-by-minute updates on the royal commission hearings into superannuation on our live blog brought to you by the InvestorDaily team

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ASX rejects ‘social engineering’ accusations

The ASX Corporate Governance Council has sought to downplay fears that its latest consultation draft is the work of “left-wing activists” or “social ...

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