All posts tagged "ANZ"
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120Australia & NZANZ, Westpac Face Class Actions Just Days After NAB Settlement
Law firm Slater and Gordon has launched class actions against ANZ and Westpac over the sale of consumer credit insurance products, on the heels of winning a near A$50m settlement with NAB.
November 22, 2019 -
234Australia & NZAPRA’s New Approach to Managing Non-Financial Risks
APRA has published a new information paper setting out a tougher approach to lifting standards of governance, culture, remuneration and accountability across the financial industry.
November 20, 2019 -
180Australia & NZASIC Initiates Civil Penalty Proceedings Against Former ANZ Business
ASIC says that RI Advice Group, acquired by IOOF from ANZ last year, failed to take reasonable steps to ensure that one of its advisers, John Doyle, provided appropriate advice and acted in clients’ best interests.
November 4, 2019 -
387UncategorisedAPRA Proposes Banks Hold More Capital Against Large Subsidiaries
APRA proposes to increase the amount of capital banks need to hold to support investments in large subsidiaries, such as their New Zealand units.
October 18, 2019 -
424Australia & NZ
ASIC Issues Second Update on Response to Royal Commission
Of 105 investigations and court actions underway against financial institutions at the end of July, 86 related to the big four banks and AMP.
September 13, 2019 -
385Australia & NZ
APRA, RBNZ Approaches to Bank Capital Incompatible
Citi banking analyst Brendan Sproules says APRA and the RBNZ "are pursuing radically contrasting approaches to bank sector capital adequacy".
September 10, 2019 -
436Australia & NZ
ANZ New Zealand to Review Internal Financial Reporting Processes
The FMA has determined that ANZ should have disclosed the sale of a luxury property to its ex-CEO’s wife at below-market prices as a related party transaction.
August 23, 2019 -
363Australia & NZ
ASIC to Initiate Legal Proceedings Against Banks Within “Weeks”
In addition to the 13 referrals from the royal commission, ASIC has been investigating “three times as many” case studies with a view to initiating legal proceedings in the new few weeks.
August 21, 2019 -
534Australia & NZAPRA Orders Allianz to Raise Capital by A$250m
APRA wants to send a message to the insurance and super sectors that it expects the same high standards of risk management, including for non-financial risks, as it does for banks.
August 15, 2019 -
717Australia & NZ
Compensation for Poor Advice Reaches A$120bn: ASIC
NAB paid the most to compensate customers for failures by the largest number of advisers, and is expected to take the longest to complete its remediation programme.
August 2, 2019
