Australia

Banks Face Tougher Penalties for Offering Incentives to Win Super Fund Business

By Editors | 16/06/2015

Banks and industry super funds will face tougher penalties for luring clients into default superannuation funds with incentives.

New Zealand and Myanmar to join AIIB

By Editors | 16/06/2015

New Zealand and Myanmar will be members of the Asian Infrastructure Investment Bank, slated to begin operations later this year.

RBNZ Proposes Tightening Mortgage Lending

By Editors | 07/06/2015

The Reserve Bank of New Zealand (RBNZ) has published a consultation paper about proposed changes in mortgage lending. Consultation is […]

Super Funds Need More Independent Directors

By Editors | 05/06/2015

Investment consultancy firm Mercer has published a report recommending that superannuation fund boards in Australia be required to appoint a greater proportion of independent directors.

Australian Regulators to Investigate Excessive Credit Card Rates at Banks

By Editors | 02/06/2015

Financial regulators are expected to investigate the record gap between the Reserve Bank of Australia (RBA) official interest rate and credit card rates.

ASIC Proposes Register of “Bad Apple” Stockbrokers

By Editors | 02/06/2015

In an effort to protect investors and boost consumer confidence, ASIC is pushing to create a register which would list stockbrokers’ disciplinary records.

Australia’s Top Regulators Put Banking Culture and Incentives in the Firing Line

By Editors | 01/06/2015

APRA chairman said banks must lift their efforts to ensure remuneration plans encourage ethical behaviour.

Steps to Cool Property Market Having Positive but Modest Effect, reports RBA

By Editors | 01/06/2015

The Reserve Bank of Australia has reported that its measures to cool investment lending in housing seem to be working.

ASIC Issues Derivative Transaction Rules for Central Clearing of OTC Trade

By Editors | 29/05/2015

The Australian Securities and Investments Commission is seeking industry views on new derivative transaction rules to govern the mandatory central clearing of over-the-counter trade from April next year.