All posts tagged "Westpac"
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468Australia & NZRBNZ Commends Westpac for Improved Liquidity Risk Management
The RBNZ says Westpac NZ has improved its liquidity risk management and risk culture by improving resourcing and governance.
May 31, 2022 -
298Australia & NZRBA Calls on Major Banks to Enhance NPP Services
The RBA is seeking assurances on the timely implementation of new NPP services, and asking banks to improve the reliability of the NPP services they already provide.
May 5, 2022 -
589Australia & NZAustralian Court Orders Westpac to Pay A$113m in Penalties
The penalties are the result of six proceedings brought by ASIC in November. Westpac had already agreed to pay the penalties and customer remediation.
April 25, 2022 -
667Australia & NZWestpac Super Trustee Fined for Overcharging Commissions
On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
April 11, 2022 -
358Australia & NZWestpac Penalised in Consumer Credit Insurance Mis-selling Case
Westpac issued consumer credit insurance policies to customers who did not request the product, then asserted a right to payment which customers were not liable for.
April 8, 2022 -
336Australia & NZASIC Finalises New Complaints Data Reporting Framework
Under the framework, 11 large financial firms will be required to report internal dispute resolution data to ASIC for the first time by 28 February 2023.
April 1, 2022 -
410Australia & NZRBNZ Raises Transparency of Regulatory Breaches by Banks
The RBNZ has launched a new register to improve transparency about material breaches of key prudential requirements by banks.
March 24, 2022 -
442Australia & NZAPRA Super Fund Performance Test Results in Mergers, Exits
13 super funds failed APRA's inaugural MySuper Product Performance Test last August. The worst performer, Maritime Super, is in talks to merge with industry fund Hostplus.
February 28, 2022 -
582Australia & NZ
Advice Compensation Paid by Aussie Majors Tops A$3b
As at end-2021, Australia's major banks have paid or offered a total A$3.15 billion in compensation as a result of fees-for-no-service misconduct and non-compliant advice.
February 17, 2022 -
322Australia & NZ
APRA Publishes Latest Data on Super Fund Underperformance
About 60% of choice products and 45% of MySuper products delivered returns below benchmarks. APRA will further intensify its supervision on trustees delivering sub-standard member outcomes.
December 17, 2021
