All posts tagged "Westpac"
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311Australia & NZASIC Issues Second Update on Response to Royal Commission
Of 105 investigations and court actions underway against financial institutions at the end of July, 86 related to the big four banks and AMP.
September 13, 2019 -
211Australia & NZASIC to Appeal Westpac Responsible Lending Case Dismissal
ASIC says last month’s federal court’s ruling in favour of Westpac creates uncertainty as to what is required for a lender to comply with its loan assessment obligations.
September 11, 2019 -
329Australia & NZAPRA, RBNZ Approaches to Bank Capital Incompatible
Citi banking analyst Brendan Sproules says APRA and the RBNZ "are pursuing radically contrasting approaches to bank sector capital adequacy".
September 10, 2019 -
256Australia & NZEnforcement Actions Will Be Publicised, APRA Clarifies
Publicising enforcement actions gives the community confidence that financial institutions are being held to account when they do the wrong thing, said APRA deputy chair John Lonsdale.
September 4, 2019 -
324Australia & NZ
ASIC to Initiate Legal Proceedings Against Banks Within “Weeks”
In addition to the 13 referrals from the royal commission, ASIC has been investigating “three times as many” case studies with a view to initiating legal proceedings in the new few weeks.
August 21, 2019 -
479Australia & NZAPRA Orders Allianz to Raise Capital by A$250m
APRA wants to send a message to the insurance and super sectors that it expects the same high standards of risk management, including for non-financial risks, as it does for banks.
August 15, 2019 -
249Australia & NZ
ASIC Ordered to Pay Westpac Costs in Case Dismissal
In September, Westpac admitted to breaching responsible lending laws and agreed to a A$35mn settlement with ASIC. The settlement was rejected and the case has been dismissed.
August 14, 2019 -
580Asia-PacificAPAC Not Fully Meeting IFRS 9 Disclosure Objective: Moody’s
Significant variations in reporting practices in some cases do not meet the disclosure objective of IFRS 9, Moody's says, describing HSBC Hong Kong and Hang Seng Bank as best in class.
August 13, 2019 -
535AML / KYCAustralia Records Decline in Payment Fraud Rates
AusPayNet’s latest data shows a decline in the overall rate of card fraud for 2018, alongside slower growth in online fraud.
August 9, 2019 -
541Australia & NZ
APRA Fines Westpac A$1.5mn for Late EFS Reporting
Westpac and two of its subsidiaries were late in filing monthly and quarterly reports for APRA’s Economic and Financial Statistics programme.
August 9, 2019
