All posts tagged "CBA"
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241Australia & NZASIC Bans Cold Call Selling of Life Insurance, CCI Products
The ban on unsolicited cold-call sales of direct life and consumer credit insurance follows a A$700,000 penalty against CBA's CommInsure for hawking offences.
December 5, 2019 -
268Australia & NZCBA’s CommInsure Penalised A$700,000 for Hawking Offences
The penalty follows last week's guilty plea from CommInsure for conducting insurance sales by phone, where the customers had not requested to be contacted.
November 29, 2019 -
307ChinaChina Eyes Stronger Data Governance Standards for Financial Sector
The China Banking Association is working to develop technology standards to facilitate data analysis, while also ensuring adequate security and data quality management.
November 28, 2019 -
261AML / KYCANZ Offers Assurances as Industry Faces AML Scrutiny
As the industry comes under fire for AML/CTF violations, ANZ Bank has issued a statement confirming it is reviewing its own systems and has not found any material issues to date.
November 28, 2019 -
1.1KAustralia & NZEFS Reporting for Derivatives to Start in Q3 2020: APRA
APRA has determined that only ANZ, BNP Paribas, Citibank, CBA, Deutsche Bank, HSBC, JP Morgan, Macquarie, MUFG, NAB, Sumitomo Mitsui and Westpac will be required to report under ARS 722.0.
November 23, 2019 -
1.4KAustralia & NZRBNZ Sanctions NAB’s Bank of New Zealand for Capital Calculation Errors
Bank of New Zealand is the third of the big four banks in New Zealand to be forced to hold more capital as a result of capital calculation errors.
November 23, 2019 -
683Australia & NZ
ANZ, 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 from NAB.
November 22, 2019 -
313Australia & NZ
CBA’s CommInsure Faces A$1.85mn Penalty for Unsolicited Sales Calls
The penalty will be in addition to the A$12mn CommInsure has said it will pay to 30,000 policyholders to remediate telephone sales conduct issues.
November 21, 2019 -
293Australia & NZ
APRA’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 -
406UncategorisedAPRA 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
