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Showing 131 - 140 of 338 results for "Watchdog"

Consultation on mortgage broker best interests duty opens

ALLY SELBY  |  THURSDAY, 20 FEB 2020
The corporate watchdog has started a four week consultation process to draft guidance on the new best interests duty for Australia's mortgage brokers. From July 1 this year, mortgage brokers will be legally required to act in the best interests of consumers ...

Corrupt adviser banned, AFSL canned

ALLY SELBY  |  TUESDAY, 4 FEB 2020
... their financial circumstances and risk profiles, which Shapter then used to prepare his advice documents. The corporate watchdog found that Shapter issued Statements of Advice on the same day these initial enquiries were made, without appropriately enquiring ...

Consumer data right for open banking delayed

ALLY SELBY  |  FRIDAY, 20 DEC 2019
... next year. While the sharing of mortgage and personal loan data will be delayed further to November. The competition watchdog said the updated timeline would allow it to better test for any security or privacy issues that may arise. "The ACCC has formed ...

New Year, new APRA

ALLY SELBY  |  FRIDAY, 20 DEC 2019
... costs (and benefits) for proposed policy changes, and better communicate this process with APRA's stakeholders." The watchdog also saw room for improvement with KPI 2; communication with regulated entities is clear, targeted and effective. A biennial ...

APRA proposes new banking data policies

ALLY SELBY  |  FRIDAY, 6 DEC 2019
... ADI data. APRA executive director for cross-industry insights and data Sean Carmody said the proposal aligns with the watchdog's strategy of improving data transparency. "APRA is committed to increasing transparency about the institutions and industries ...

ACCC immunity deal questioned by court

ELIZA BAVIN  |  FRIDAY, 6 DEC 2019
JPMorgan's former head of equity, capital and derivatives, Richard Galvin, has been forced to answer questions over the immunity deal offered to him by the ACCC over the cartel scandal of 2015. The Commonwealth brought charges against ANZ, Citigroup ...

CBA chief tasked with rebuilding banking

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
... for all Australians," Baker said. First up on the agenda, the association will face a fresh inquiry by the competition watchdog into the banking sector, this time, examining "loyalty tax"; where new borrowers are charged lower rates than existing customers. ...

Regulators circle as scandal engulfs Westpac

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
... as it considers whether to launch legal action. APRA chair Wayne Byres told a parliamentary hearing on Monday that the watchdog would confirm by the end of the month whether it would launch legal proceedings under the Banking Executive Accountability ...

Calls to give ASIC power to repair reputations

ELIZA BAVIN  |  WEDNESDAY, 11 SEP 2019
... investigation for wrongdoing following the Royal Commission. Philip Crutchfield, QC, who previously acted for the corporate watchdog in its bank bill swap rate rigging case against Westpac, NAB and ANZ, as well as acting counsel for AMP at the financial ...

ASIC clamps down on poor advice, grandfathered commissions

KARREN VERGARA  |  WEDNESDAY, 28 AUG 2019
... will clamp down on financial advice misconduct and ensure it sees an end to grandfathered commissions. The corporate watchdog outlined its priorities for the advice sector between now and 2023 in its recently released Corporate Plan. One of its new priorities ...