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Regulation

regulation

14 May 2018 • By Jessica Yun • 1 min read

IOOF unlikely to escape RC unscathed

IOOF executives may have escaped the scrutiny of the royal commission to date, but the company’s decision to “double down” on advice could come back ...

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APRA and ASIC defend EU process

The prudential and corporate regulators have outlined to the royal commission reasons why enforceable undertakings should remain an available ...

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Government to implement open banking regime

The government has announced it will begin implementing the recommendations made by the Review into Open Banking from July next year. In a ...

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AMP to defend class action lawsuits

Embattled giant AMP has confirmed two separate shareholder litigation suits have been filed against it on behalf of shareholders, but says it will ...

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ASIC and APRA get $13.3m RC boost

The corporate and prudential regulators will receive a further $13.3 million to "assist" the royal commission, to be offset by an increase in levies ...

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CBA to settle BBSW case for $25m

The Commonwealth Bank has reached an in-principle agreement to settle civil proceedings brought by ASIC in January over manipulation of the bank bill ...

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First restricted ADI licence granted

APRA has released its first restricted ADI licence to digital bank 'volt bank', which will be led by former Barclays UK head of mortgages Steve Weston

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Directors could be in crosshairs post-RC

Directors of financial services companies could face stiffer penalties if they fail to provide services honestly and ethically in the wake of the ...

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CBA admits to losing 20m statements

The Commonwealth Bank has admitted it lost 20 million customer statements after a sub-contractor failed to confirm it had destroyed the data

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AFCA receives government authorisation

The Australian Financial Complaints Authority has been authorised by the government, with financial firms and superannuation trustees given until 21 ...

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