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Showing 61 - 70 of 398 results for "Big 4 banks"

ACCC to probe rate cut decisions

HARRISON WORLEY  |  MONDAY, 14 OCT 2019
... institutions. The inquiry will investigate the prices charged for residential mortgages by the lending market, including big banks and non-bank lenders, and will consider how those prices are determined, such as the impact of the official cash rate. ...

Volcker Rule tweak gets green light

KANIKA SOOD  |  THURSDAY, 10 OCT 2019
... Street Reform Act, 2010 named after former Fed chair Paul Volcker who proposed the restrictions on speculative trading by big banks as a part of Barrack Obama's economic advisory panel. Obama endorsed it in 2010 and the five agencies approved final regulations ...

ANZ remediation costs break $1 billion

ELIZA BAVIN  |  TUESDAY, 8 OCT 2019
... possible." The news comes after NAB announced a further $1 billion in customer compensation at the start of this month as the big banks continue to suffer the consequences stemming from the Royal Commission.

Morgans snaps up CommSec Advisory business

ELIZA BAVIN  |  TUESDAY, 24 SEP 2019
... year that it was considering the sale after offloading Count Financial for $2.5 million. The news comes as many of the big banks reconsider their advisory businesses following revelations from the Royal Commission. Westpac announced earlier this year ...

Foresight launches new wholesale fund

ELIZABETH MCARTHUR  |  TUESDAY, 10 SEP 2019
... it helps put Australia on the map as an innovator in the fast-growing green debt capital markets." "Historically, the big banks have overlooked smaller-ticket wind and solar projects, as they are generalists and lack the dedicated resources to identify ...

Members shift to industry super funds

KARREN VERGARA  |  THURSDAY, 29 AUG 2019
... back in a competitive fashion". The "unwind" began before the banking Royal Commission, she said, at a time when the big banks and institutions began offloading their wealth divisions. Loane sees retail funds re-emerging in a more efficient way via engaging ...

Best online brokers revealed

ELIZABETH MCARTHUR  |  THURSDAY, 22 AUG 2019
... Investment Trends research director Recep Peker explained the satisfaction results are significant because it shows the big banks are facing stiff competition. "Bank-backed brokers are facing strong competition from established independent brokers such ...

ASIC accelerates enforcement

ELIZABETH MCARTHUR  |  MONDAY, 19 AUG 2019
... 2019 ASIC increased enforcement investigations by 20%. Investigations involving the big six and their subsidiaries (the big banks, AMP and Macquarie) were up by 51%. Wealth management investigations increased by a remarkable 216%. "ASIC's enforcement ...

ASIC reveals advice remediation progress

HARRISON WORLEY  |  THURSDAY, 1 AUG 2019
A 2017 report by ASIC into how the big banks and AMP oversee financial advisers has netted less than $120 million in remediation to date. AMP, ANZ, Commonwealth Bank, NAB and Westpac have paid a total of $119.7 million [see figure 1] in remediation ...

Open Banking gets another shot in parliament

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 JUL 2019
... under the Open Banking changes. The energy and telecommunications sectors are proposed to follow next. Three of the four big banks (Westpac, ANZ and Commonwealth Bank) have voluntarily launched the first stage of Consumer Data Right on 1 July 2019. The ...