All posts tagged "Royal Commission"
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240Australia & NZNAB Provisions Extra A$750mn for Customer Refunds
The additional provisions reflect expected payouts for NAB's employed advisers, and the costs to review advice provided by its self-employed adviser network.
April 19, 2019 -
341Australia & NZAPRA Adopts New, Tougher Enforcement Approach
Under the new enforcement approach, APRA will be more willing to use its full range of powers to deter bad practices and hold entities and individuals to account.
April 17, 2019 -
261Australia & NZAustralia Passes Law Forcing Financial Firms to Cooperate with AFCA
A new law has made it mandatory for all financial firms to fully cooperate with AFCA to resolve consumer and small business disputes.
April 10, 2019 -
357Australia & NZASIC, APRA Granted New Intervention Powers
ASIC can intervene where financial and credit products put consumers at risk; APRA can intervene to prevent harm to superannuation members.
April 5, 2019 -
336Australia & NZAustralia Budget Delivers Additional Funding for APRA, ASIC
APRA and ASIC will get more than A$550mn in funding to enhance their effectiveness in addressing financial sector misconduct.
April 4, 2019 -
539Australia & NZ
APRA Proposes Stricter Credit Risk Management Standards
The revised prudential standard enhances board oversight of credit risk and requires more intensive credit checks on borrowers. APRA also highlights the risks of P2P originated loans.
March 26, 2019 -
341Australia & NZASIC, APRA, Courts to Get More Funding to Pursue Misconduct
In the 2019-2020 budget, Australia's government will provide more than A$585mn in new funding to regulators and the court system to help stamp out financial sector misconduct.
March 25, 2019 -
238Australia & NZ
AFCA Consults on Expanded Remit to Cover Legacy Complaints
The consultation follows the government's recent expansion of AFCA’s remit allowing it to handle legacy complaints dating back to 1 January 2008.
March 20, 2019 -
638Australia & NZAustralia Consults on Making Industry Codes Legally Enforceable
The Treasury is proposing legislative amendments to make industry codes of conduct legally enforceable, where contraventions will constitute a breach of the law.
March 19, 2019 -
319Australia & NZAustralian Banks on Track to Meet 2020 Deadline on Staff Pay Reforms
Policies at banks are on track to be fully consistent with the staff pay reform recommendations well in advance of 2020, says former public service commissioner Stephen Sedgwick.
March 15, 2019
