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Showing 141 - 150 of 296 results for "House of Representative"

Bank inquiry recommends breaking big four oligopoly

ALEX BURKE  |  FRIDAY, 25 NOV 2016
The House of Representatives Standing Committee on Economics' first report in its review of the four major banks has recommended breaking the big four's "oligopoly" and introducing competition into the sector. The report said this could be achieved ...

Cooper defends BT life insurance figures

ALEX BURKE  |  MONDAY, 17 OCT 2016
BT Financial Group chief executive Brad Cooper has defended BT's life insurance arm after it was revealed the 37% TPD denial rate highlighted in ASIC's industry review came from his company. Last week, ASIC came out with its review of life insurance ...

Poll provides fresh defence against Royal Commission

MARK SMITH  |  FRIDAY, 14 OCT 2016
The Australian Bankers Association (ABA) has launched its latest defence against Labor's proposed Royal Commission, releasing new poll data that shows a fall in support for an inquiry. The poll, conducted by Galaxy between October 6-9, shows two thirds ...

ANZ blames tech and training for bank mishaps

JAMIE WILLIAMSON  |  THURSDAY, 6 OCT 2016
ANZ chief executive Shayne Elliott has conceded the bank has not always met the standards it sets for itself or that the community rightly expects. In addressing the House of Representatives' parliamentary committee yesterday, Elliott said: "Each time ...

CommInsure under fire again

JAMIE WILLIAMSON  |  TUESDAY, 4 OCT 2016
The Commonwealth Bank has released an update on the ongoing independent review into its life insurance division CommInsure, following further accusations of misconduct. The review findings show the bank has retrieved and revised over five million documents ...

ABA denies precedent for matching RBA cash rates

ALEX BURKE  |  FRIDAY, 5 AUG 2016
The Australian Bankers' Association has rejected calls from Parliament to justify its interest rate pricing based on the Reserve Bank's cash rate. Following the RBA cutting the cash rate to 1.75%, Prime Minister Malcolm Turnbull told media that "the ...

Super governance at top of APRA agenda

MARK SMITH  |  MONDAY, 21 MAR 2016
The Australian Prudential Regulation Authority has highlighted three superannuation governance issues it will prioritise in its regulatory agenda for 2016. The first of these issues is what the regulator called "the robustness of strategic and business ...

Labor wants stronger LIF rules

ALEX BURKE  |  FRIDAY, 4 MAR 2016
Legislation based on the Life Insurance Framework doesn't go far enough according to Shadow Minister for Financial Services and Superannuation, Jim Chalmers. Discussing the Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016 ...

ZIRP to bring back "animal spirits"?

BENJAMIN ONG  |  FRIDAY, 26 FEB 2016
Actual total private new capital expenditures may have surprised on the upside, rising by 0.8% in the three months ended December 2015 when they were expected to drop by 3.0% but... they're still not a pretty set of numbers. Uglier still, according ...

LIF expected before parliament this week

ALEX BURKE  |  THURSDAY, 11 FEB 2016
The Life Insurance Framework is expected to be put to the House of Representatives by Assistant Treasurer Kelly O'Dwyer this week. The government released exposure draft legislation in December 2015, based on the framework, which O'Dwyer said at the ...