KPMG's John Kensington says the proposal to raise bank capital requirements could stress the lending market. RBNZ's Adrian Orr defends the plan, but vows to remain "open-minded".
ASIC's existing guidance allows a tailored approach to applying responsible lending obligations, but licensees may be applying them where the law does not require it.
A former FX options and futures trader has received a 2-year suspended sentence for falsifying entries in Deutsche Bank's internal records.
APRA details the work already underway to implement the Recommendations and confirms it is examining the 12 matters referred by the Royal Commission.
A blanket ban on commissions as suggested by Kenneth Hayne would have a “devastating effect” on mortgage broking industry, says MFAA CEO Mike Felton.
ASIC says it is carefully monitoring developments and has been liaising closely with UK and Australian authorities to plan for potential Brexit-related impacts.
Commissioner Hayne said in his Final Report that NAB “stands apart” from the other major banks and questioned whether its senior leadership was capable of reforming the bank’s culture.
A bespoke framework for ICOs can provide regulatory clarity and encourage economic activity, but the costs and benefits must be weighed, says a paper from Australia's Treasury.
Sophie Grace director Sophie Gerber lays out the obligations reporting entities must adhere to for compliance with AML/CTF rules in Australia.
The Final Report on Australia's Royal Commission packs a swift and powerful punch which may well be felt for some time, says public policy specialist Matthew Chan.