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Regulatory

APRA takes action against Macquarie

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
Following multiple breaches to prudential and reporting standards, the Australian Prudential Regulation Authority (APRA) has hit Macquarie Bank with increased liquidity and operational risk capital requirements.

ASIC sues CBA over monthly fees

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
The corporate regulator has commenced civil proceedings against Commonwealth Bank over allegations it wrongly charged monthly fees to customers over a nine-year period.

ASIC drops Caddick charges

ELIZABETH MCARTHUR  |  TUESDAY, 30 MAR 2021
ASIC has dropped all 38 charges it was pursuing against missing woman and self-proclaimed financial adviser Melissa Caddick.

ASIC releases fee consent instrument

ELIZABETH MCARTHUR  |  THURSDAY, 25 MAR 2021
ASIC has released three legislative instruments to regulate advice fee consents and lack of independence disclosures, as part of the government's response to the Royal Commission.

Mayfair found to have misled

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 MAR 2021
ASIC's court action against Mayfair 101 has been successful, with the Federal Court finding its advertisements for debenture products were misleading.

RBNZ puts Westpac on notice

ANNABELLE DICKSON  |  WEDNESDAY, 24 MAR 2021
The Reserve Bank of New Zealand (RBNZ) has instructed Westpac New Zealand (WNZL) to hold additional liquid assets and commission independent reports into its risk governance and liquidity risk management.

APRA outlines indemnity measures

ANNABELLE DICKSON  |  TUESDAY, 23 MAR 2021
The prudential regulator has written to authorised deposit-taking institutions (ADIs) to ensure the management of risks with indemnities in divestment transactions.

ANZ, CBA settle class action

ANNABELLE DICKSON  |  MONDAY, 22 MAR 2021
ANZ and Commonwealth Bank (CBA) have both reached an agreement to settle a class action in the US related to the trading of bank bill swap (BBSW) products in 2016.

Chester eyes ASIC chair role

KARREN VERGARA  |  FRIDAY, 19 MAR 2021
ASIC deputy chair Karen Chester has confirmed that she wants to be considered for the role as chair of the corporate regulator, taking over from James Shipton who will step down as soon as the right candidate is announced.

Insider trading forum busted

ELIZABETH MCARTHUR  |  FRIDAY, 19 MAR 2021
The Securities and Exchange Commission (SEC) has busted an internet forum where people were selling "insider tips" on listed companies.