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Regulatory

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
ANZ has copped a $10 million penalty for its home loan referral program that breached consumer credit protection laws.

ASIC issues more interim stop orders

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
Deficiencies in its target market determination (TMD) have seen interim stop orders placed on Interactive Brokers Australia.

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
The Financial Planning Association of Australia (FPA) has voiced concerns over the proposed Compensation Scheme of Last Resort (CSLR) and Financial Accountability Regime (FAR) legislation.

Dodgy advice bill nears $5bn: ASIC

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
Providing its final update on institutions' financial advice remediation programs, ASIC calculated AMP, ANZ, Commonwealth Bank (CBA), Macquarie, NAB and Westpac have so far paid a combined $4.7 billion.

Senate inquiry to scrutinise proposed franking credit rules

ANDREW MCKEAN  |  THURSDAY, 9 MAR 2023
A Senate Economics Committee inquiry will scrutinise the government's proposed changes to franking credits, which target share buybacks and capital raisings.

Review of managed investment schemes kicks off

JAMIE WILLIAMSON  |  THURSDAY, 9 MAR 2023
Treasury is commencing its review of the regulatory framework underpinning managed investment schemes (MIS), targeted at identifying gaps and possible areas for improvement.

Government introduces FAR, CSLR Bills

ANDREW MCKEAN  |  WEDNESDAY, 8 MAR 2023
The Financial Accountability Regime and Compensation Scheme of Last Resort have been introduced to Parliament by Assistant Treasurer Stephen Jones.

ASIC charges former investment company executives

ANDREW MCKEAN  |  MONDAY, 6 MAR 2023
Benjamin Hornigold's former chief executive and chief financial officer face charges for dishonest breach of duties and misleading the ASX.

Expect more greenwashing action: ASIC

RACHEL ALEMBAKIS  |  FRIDAY, 3 MAR 2023
The court case against Mercer Superannuation for allegations of greenwashing is "just one of the investigations on foot", ASIC chair Joe Longo said.

ASIC bans mortgage broker for eight years

KARREN VERGARA  |  MONDAY, 27 FEB 2023
An unlicensed mortgage broker who misled superannuation fund members about property investing has been banned from working in financial services for eight years.