All posts tagged "Royal Commission"
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171Australia & NZASIC, APRA Ink Updated MoU to Enhance Collaboration
The updated MoU was a royal commission recommendation to enable more proactive engagement between the two regulators.
December 2, 2019 -
678Australia & 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 from NAB.
November 22, 2019 -
286Australia & 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 -
254Australia & NZAFCA Launches Consumer Complaint Monitoring Tool
Datacube will allow Australian consumers to see how financial institutions are responding to complaints brought to the one year-old consumer complaints body.
November 12, 2019 -
6291Contributed ArticleRegulatory Data: Arrows for the Quiver?
Banks need to be cognisant of how the data they provide to regulators is being used, says Herbert Smith Freehills in its 2019 Global Bank Review.
October 25, 2019 -
207Australia & NZ
APRA Seeks More Funding to Address Capability Review Findings
In his opening statement to a Senate estimates hearing this week, APRA chairman Wayne Byres said the regulator will need additional resourcing to deliver on its objectives.
October 25, 2019 -
253Australia & NZDisclosure Can Contribute to Customer Harm: ASIC
Disclosure can backfire in unexpected and harmful ways and should not be relied upon by itself to drive good consumer outcomes, ASIC says in a joint report with the Dutch regulator.
October 17, 2019 -
360Australia & NZABA Backs Proposal for Bank-Funded Financial Counselling
A review of Australia's financial counselling sector has recommended that the big four banks fund half of the initial contributions immediately needed to expand delivery of such services.
October 7, 2019 -
251Australia & NZ
APRA’s Authority Potentially Undermined by IOOF Court Loss
APRA initiated court action against IOOF seeking to ultimately disqualify its executives from the industry, but instead the court dismissed the regulator's case.
September 25, 2019 -
469Australia & NZ
ClearView Completes Advice Remediation Programme
Financial compensation totalling A$730,000 was offered to 215 clients who were harmed by poor advice, while another 21 clients received non-financial remediation.
September 20, 2019
