Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Regulatory

ASIC commences civil action against ANZ

KARREN VERGARA  |  MONDAY, 17 SEP 2018
ASIC has commenced civil penalty proceedings against ANZ for its involvement in an alleged criminal cartel relating to a $2.5 billion institutional share placement in August 2015.

ASIC marks AFCA milestone

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
Corporate regulator ASIC said it has approved the Australian Financial Complaints Authority's complaint resolution rules, marking a significant milestone in time for its November 1 launch.

Industry body rejects ABA banking code

KANIKA SOOD  |  MONDAY, 10 SEP 2018
Australian Banking Association chief executive Anna Bligh's call for mutual banks, credit unions and building societies to adopt the ABA's new banking code of practice has been labelled "gratuitous" by an industry body which says a better code of practice ...

New code should apply to all: ABA

HARRISON WORLEY  |  FRIDAY, 7 SEP 2018
The Australian Banking Association (ABA) believes the new Banking Code of Practice standards should be adopted across the entire industry, including banks that are not ABA members.

ASIC to ramp up trustee visits

KARREN VERGARA  |  FRIDAY, 7 SEP 2018
Superannuation funds should get accustomed to leaving the front door open for ASIC as the regulator flagged it will pay trustees more periodic visits.

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
ASIC commenced Federal Court action against MLC Nominees and NULIS today in relation to the significant advice fees charged to superannuation members despite no financial advice being provided.

Increasing trust not up to APRA: Byres

HARRISON WORLEY  |  THURSDAY, 6 SEP 2018
Regaining the trust of Australians is a responsibility for the financial services industry, not the prudential regulator.

Former MyPlanner adviser fails best interests test

JAMIE WILLIAMSON  |  WEDNESDAY, 5 SEP 2018
The corporate regulator has accepted an enforceable undertaking from a former MyPlanner financial adviser for failing to act in the best interests of his clients.

APRA to reopen old wounds for CBA, IOOF

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
APRA will dig its heels into a list of concerns magnified in the Royal Commission into superannuation that mainly involve IOOF, CBA and Suncorp.

Reverse mortgage lenders shortsighted: ASIC

KARREN VERGARA  |  WEDNESDAY, 29 AUG 2018
While older Australians are largely benefitting from reverse mortgages in the short term, many have a poor understanding of the risks and the long-term pitfalls, ASIC said.