HSBC’s US securities operations agree to pay $1.8bn after CFTC allegations it was involved in ‘numerous acts of spoofing’.
The report says 68 percent of clients are heavily invested in banks' in-house products; advisors may face bans if conflicts of interest are not managed better.
Parliamentary submission suggests reforms allowing ASIC to assume identities on the dark web, share phone data with foreign regulators, seize electronic devices.
Eligible public companies can raise up to AUD 5 million in funds through equity crowdfunding and will face fewer regulatory requirements for fundraising.
Industry body recommends increasing the deposit limit for new banking entrants, allowing more time to meet the prudential framework.
Code of conduct, which is awaiting approval by ASIC is legally binding in contracts with consumers, bans unsolicited credit card limit increases.
Bank admits late filing of reports on more than 50,000 deposits into its ATMs, AUSTRAC seeking penalties for individual AML/CTF law breaches.
Australia joins Japan in recognising cryptocurrencies as a store of value, international transactions of $7,500 or more must be reported.
Inquiry to look into alleged misconduct in financial sector welcomed by banks, securities regulator, but not superannuation scheme operators.
Move hints at increasing global concern that car finance, fuelled by low interest rates, could be source of next sub-prime crisis.