All posts tagged "Royal Commission"
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91Australia & NZRBA Report Contradicts Official Stance on Responsible Lending Laws
An RBA internal report indicates that the absence of responsible lending laws could put borrowers at greater risk, particularly in a low interest rate environment.
January 22, 2021 -
62Australia & NZAPRA Issues Second Consultation on Insurance in Superannuation
Submissions in the previous consultation sought further clarification on the proposed changes, which are aimed at improving member outcomes.
January 21, 2021 -
144Australia & NZASIC Approves Variations to Banking Code of Practice
The changes extend the Covid-19 Special Note for six months to September 2021, and amend definitions to bring more small businesses into scope.
January 11, 2021 -
115Australia & NZAustralia to Further Streamline Financial Advice Regulations
Streamlining the number of bodies involved in financial adviser oversight will reduce complexity and add value for retail investors, said SAFAA CEO Judith Fox.
December 15, 2020 -
721Australia & NZAustralia Gets New Guidance for Internal Auditors in Financial Services
The Better Practice Guide was developed by industry practitioners with APRA and ASIC serving as vocal observers and EY and KPMG providing secretariat support.
November 29, 2020 -
368Australia & NZASIC Drafts Reference Checking Protocol for Advisers, Mortgage Brokers
The Royal Commission recommended that reference checks be required for individuals seeking to be employed or authorised as a financial adviser or mortgage broker.
November 19, 2020 -
484Australia & NZAustralia Introduces New Package of Royal Commission Reforms
The package includes reforms to strengthen consumer protections, including by making industry codes enforceable and enhancing FIs' breach reporting requirements.
November 16, 2020 -
549Australia & NZ
APRA Updates Draft Prudential Standard on Remuneration
The prudential standard is expected to come into effect for significant banks in January 2023 and for significant insurers and superannuation entities in July 2023.
November 12, 2020 -
791Australia & NZCBA to Pay Penalty for Increasing Problem Gambler’s Credit Limit
ASIC launched civil proceedings against CBA in March alleging that the bank failed to take account of a notification by a customer that he was a problem gambler.
November 2, 2020 -
853Australia & NZ
Australia 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
