All posts tagged "Royal Commission"
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707Australia & NZAustralia Federal Budget Delivers Super Fund Accountability
Super funds will be forced to enhance disclosures on fees and performance. Consistently underperforming super funds will be prohibited from receiving new members.
October 9, 2020 -
738Australia & NZ
Australia Prepares to Abolish Responsible Lending Obligations
Lenders will no longer have to assess borrowers' earnings and expenses to determine whether they can afford to repay their debt without hardship.
September 28, 2020 -
1.5KAustralia & NZGCRA: Little More Than Acting the Part
We need real-time insights into cultural drivers of behaviour rather than backward-looking surveillance systems designed to catch bad actors after-the-fact.
September 18, 2020 -
1.1KAustralia & NZAPRA Imposes Licence Conditions on NAB Unit NULIS Nominees
NULIS Nominees is required to improve its governance and control environment, and ensure members’ best interests are prioritised in its decision-making.
August 28, 2020 -
970Australia & NZCBA Increases Remediation Provisions Ahead of Full-Year Results
Customer remediation provisions have been increased by A$300mn, bringing CBA's total remediation bill to A$834. The full-year results are due on 12 August.
August 5, 2020 -
390Australia & NZASIC to Seek Reforms to Responsible Lending Laws
ASIC has decided not to appeal the dismissal of its responsible lending case against Westpac; instead it will review its existing guidance and recommend legislative reforms.
July 23, 2020 -
2.3KAustralia & NZASIC’s Loss to Westpac is Terrible for Everyone
Despite its recent Federal Court loss, ASIC was right to appeal the dismissal of its responsible lending case against Westpac, says bank conduct specialist Dr Andy Schmulow.
July 11, 2020 -
2.3KContributed ArticleThe New Normal: Conduct Risk & Personal Accountability
Increasingly, leaders along all Three Lines of Defence are being held personally accountable for misconduct that takes place on their watch, says Stephen Scott at Starling.
July 1, 2020 -
354Australia & NZ
ASIC Issues ‘Best Interests’ Guidance for Mortgage Brokers
Starting from 1 January 2021, ASIC will be closely monitoring conduct and outcomes to ensure mortgage brokers are effectively complying with the best interests duty.
June 25, 2020 -
468Australia & NZAustralia: Banks Work Towards Swift Resolution of Advice Failures
Larger than required remediation payments could be fast-tracked for all clients by forgoing the years of work needed to locate advice files and calculate individual payments.
June 22, 2020
