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Showing 61 - 70 of 598 results for "Financial Sector"

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... industry will come into force with the introduction of a new bill. Introduced in Parliament on November 12, the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 addresses 20 recommendations from the 2018 inquiry. The new law will prevent ...

Citi expands fixed income offering for wholesale

KANIKA SOOD  |  THURSDAY, 5 NOV 2020
Citi Australia is offering wholesale clients access to high-yield bonds, hybrids and capital notes, as it expands its fixed income services. It said it will also offer access to the instruments via the primary market, adding potential or preferential ...

APRA, ACCC sign new MoU

ALLY SELBY  |  TUESDAY, 15 SEP 2020
... closely together to achieve good outcomes for Australians, including ensuring the impacts of COVID-19 on the financial sector are managed in a pragmatic and sensible way." As part of the MoU, the agencies agreed to hold regular, senior-level meetings ...

Banks lose US$635 billion

ELIZA BAVIN  |  TUESDAY, 15 SEP 2020
... markets. The crisis generated massive instability and high volatility in global capital markets," it said. "The financial sector was among the most impacted leading to the drop in market capitalisation." Many Chinese institutions made the list including ...

FSU secures super pay increases

ELIZA BAVIN  |  FRIDAY, 10 JUL 2020
The Financial Sector Union (FSU) has confirmed employees at a number of super funds will receive pay increases in a deal that followed 12 months of negotiation. The FSU said it was pleased to have reached decisions with a number of super funds including ...

ASIC lays out product intervention plans

HARRISON WORLEY  |  THURSDAY, 18 JUN 2020
... significant consumer detriment," Chester noted. "The power enables us to confront, and respond to, harms in the financial sector in a targeted and timely way. "But there are important checks and balances - it is a temporary intervention power and we ...

ASIC quietly granted new access to phone taps

ELIZABETH MCARTHUR  |  THURSDAY, 11 JUN 2020
... could not share that evidence with ASIC. The new powers were again recommended during the Royal Commission. The Financial Sector Reform (Hayne Royal Commission Response - Stronger Regulators (2019 measures)) Bill 2020 explanatory memorandum outlined ...

Industry flocks to JobKeeper handouts

KANIKA SOOD  |  THURSDAY, 21 MAY 2020
... Australia, 131 in Tasmania, 140 in ACT and 44 in Northern Territory. While the total of 13,493 applications from the financial sector sounds high, it was only 1.85% of the total JobKeeper enrolments received by the Australian Taxation Office as at May ...

Law firm bolsters financial services team

ELIZA BAVIN  |  FRIDAY, 15 MAY 2020
... Smith Freehills and to have the opportunity to work alongside esteemed lawyers locally and internationally. "Financial sector firms are facing significant regulatory change, more aggressive regulators using more dynamic supervision, consolidation, competition ...

Local financial sector to lose $3.5bn plus

KANIKA SOOD  |  THURSDAY, 30 APR 2020
COVID-19 will shave off more than $3.5 billion from the banking and finance industry in lost wages and profits in the four months to July, according to Deloitte Access Economics. Deloitte Access Economics Partners partner Chris Richardson estimates ...