NAB's action plan has to be completed by 31 Dec 2024, and a final report issued by Mar 2025. An independent auditor will have to report progress to AUSTRAC annually.
May 4, 2022In a survey of APLMA member institutions, more than half of respondents said they would not complete remediation of their legacy book until H1 2023.
April 21, 2022On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
April 11, 2022Westpac issued consumer credit insurance policies to customers who did not request the product, then asserted a right to payment which customers were not liable for.
April 8, 2022ASIC says Macquarie failed to properly detect and prevent unauthorised fee transactions by now-convicted former financial adviser, Ross Andrew Hopkins.
April 5, 2022ANZ has "invested heavily" in its director attestation framework remediation uplifted its overall governance capabilities.
March 31, 2022The RBNZ has launched a new register to improve transparency about material breaches of key prudential requirements by banks.
March 24, 2022Gazprom's GDR listing on SGX has been suspended. Issuers are directed to suspend trading if they are subject to sanctions or engaging in sanctioned business dealings with Russia.
March 8, 2022Aware Financial Services Australia charged over 25,000 customers over AUD 50 million in fees for financial services it did not provide.
February 23, 2022APRA wants regulated entities to give compliance risk management the same attention they give to cyber risk, operational risk management and other risk classes.
February 23, 2022