ASIC is considering over 40 enforcement cases, a number of which involve misconduct by large financial institutions, their employees or subsidiary companies.
February 20, 2019The bill increases the maximum prison penalties ASIC can pursue to 15 years, and raises the caps on civil penalties for individuals and corporations.
February 15, 2019APRA details the work already underway to implement the Recommendations and confirms it is examining the 12 matters referred by the Royal Commission.
February 12, 2019Superannuation members could benefit by an estimated A$3.8bn if two main structural problems were fixed, says the Productivity Commission in a new report.
January 11, 2019ASIC proposes new disclosure norms for superannuation and managed investment funds to boost transparency and comparability between funds.
January 10, 2019While superannuation is not traditionally associated with financial crime exploitation, AUSTRAC's risk assessment has rated the sector as medium risk.
December 17, 2018A series of class actions for millions of super fund customers could cost Australian financial institutions up to A$1bn.
September 12, 2018Two wealth management divisions of NAB are the subject of civil proceedings in an Australian Federal Court for charging over half a million customers fees for no services.
September 10, 2018Misconduct findings by the Australian Royal Commission spanned the financial sector, notably singling out ASIC and APRA as lacking authority and questioning if they were up to the job of protecting customers.
August 27, 2018The Australian Financial Complaints Authority, going into operation on 1 November this year, will focus on complaints by consumers and small businesses against financial firms.
May 4, 2018