All posts tagged "Royal Commission"
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429Australia & 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 -
572Australia & 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 -
619Australia & NZAPRA 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 -
860Australia & 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 -
920Australia & 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 -
1.1KAustralia & 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 -
1.9KAustralia & 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 -
1.2KAustralia & 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 -
1.1KAustralia & 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 -
515Australia & NZ
ASIC 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
