Australia

ASIC Seeks Power to Ban Bank Products

By Editors | 12/03/2015

Australian Securities and Investments Commission is seeking additional powers to better regulate banks, and to intervene in the sale of products that harm consumers.

Australia Regulator Mulls Financial System Inquiry Proposals

By Editors | 11/03/2015

Australia’s banking regulator is considering backing calls for banks to strengthen their balance sheets, saying it is also reviewing the impact bankers’ pay has on breeding work cultures that can potentially harm the stability of the country’s financial system.

New Zealand Plans Tougher Capital Rules on Property Loans

By Editors | 04/03/2015

The Reserve Bank of New Zealand proposes to amend existing rules by requiring all locally incorporated banks to include residential property investment mortgage loans in a specific asset sub-class, and hold appropriate regulatory capital for those loans.

Australia Regulators Probe Forex Moves Ahead of RBA Announcement

By Editors | 04/03/2015

The Reserve Bank of Australia has asked the Australian Securities and Investments Commission to investigate sharp movements in the Australian dollar in the minute before the March interest rates policy decision was announced on Tuesday afternoon.

Australian Banks, Tech Firms to Launch Sydney Fintech Hub

By Editors | 03/03/2015

Australian banks and tech companies are providing $2 million in funding to launch the country’s first fintech innovation hub in Sydney this May.

Global Regulation and Performance Demands Are Driving Pension Policy Reform

By Peter Guy | 13/02/2015

Pension funds are bigger than many banks but only now are regulations catching up.

Australian Banks Defend Corporate Tax Practices in Senate Inquiry

By Editors | 10/02/2015

Australia’s largest banks were among financial institutions that defended their corporate tax practices in submissions to the Senate inquiry, which is currently looking into the adequacy of the country’s corporate tax laws.

Australian Banks Hit by Alleged Home Loan Scam

By Editors | 06/01/2015

Two men have been charged with defrauding Australia’s biggest banks in an alleged A$110 million home loan scam, raising questions over the internal controls of some of the country’s top lenders.

New Zealand’s FMA to Focus on Governance in Future Regulations

By Editors | 23/12/2014

The Financial Markets Authority cited governance and culture, and issues around conflicts of interest among areas it will apply much of its regulatory effort in the medium-term.