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Regulation

regulation

19 April 2021 • By Reporter • 1 min read

Mayfair founder cops 20 year ban

Mayfair 101 founder James Mawhinney has been restrained from a number of activities following a Federal Court ruling.  Federal Court Justice ...

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ASIC reaps ‘largest ever’ penalties amid litigation blitz

ASIC has gained civil penalties totalling $159.8 million in six months in a new record it says will send “strong messages of ...

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NZ mulls crackdown on finance climate reporting

New Zealand has become the first country to consider legislation that would require the financial sector to disclose the impacts of climate change on ...

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Court winds up investment scammers

The Federal Court has ordered the winding up of two NSW-based companies, after ASIC found they had swindled $2.4 million out of investors.  ASIC ...

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Does too big to fail mean too big to change?

Both the robbers and the cops who failed to catch them have gone mostly unpunished since the bloody baptism of the royal commission. In the years ...

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APRA ticks off Westpac risk governance plan

The big four bank’s reshaped plan to improve its risk governance has won the approval of APRA, after an enforceable undertaking forced it to go back ...

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Fix regulators, not the law: AIST

The proposed update to the best interests duty has sparked debate for stakeholders across superannuation, but a peak industry body has declared the ...

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ASIC drags Westpac back to court

ASIC has launched civil penalty proceedings against the bank for alleged misleading and unfair sales of consumer credit insurance.  ASIC alleges ...

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CBA hit with multimillion-dollar penalty

The bank has been ordered to pay the penalty after the Federal Court found that it made false or misleading representations and engaged in deceptive ...

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‘The banks think that no one is watching’

A survey of staff from Australia’s largest financial institutions shows that banking culture has only festered since the excoriating experience of the ...

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