All posts tagged "CBA"
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360AML / KYCWestpac Faces Shareholder Class Action for Possible Disclosure Failures
The class action, filed by law firm Phi Finney McDonald, will rest on whether Westpac breached disclosure obligations or misled investors about the extent of its AML compliance failures.
December 23, 2019 -
418Australia & NZAPRA Imposes Licence Conditions on CBA-owned Avanteos Investments
CBA-owned Avanteos Investments charged over 2200 deceased members adviser service fees for 15 years, resulting in a total financial impact of over A$6mn.
December 13, 2019 -
349ChinaCBIRC Offers Update on Banking, Insurance Opening-Up
From January to October, the CBIRC has approved over 30 applications from foreign firms looking to either establish operations or commence business in China.
December 12, 2019 -
426Australia & 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 -
343Australia & 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 -
406ChinaChina 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 -
331AML / 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 -
1.2KAustralia & 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 -
1.7KAustralia & 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 -
775Australia & 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
