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Regulatory

US recommends asset manager stress tests be removed

DARREN SNYDER  |  FRIDAY, 27 OCT 2017
US Treasury released a report overnight that makes several recommendations for its financial services industry, including the elimination of statutory stress testing for investment managers.

Trustees must raise bar on good governance: APRA

KARREN VERGARA  |  THURSDAY, 26 OCT 2017
Superannuation trustees must do more than comply with a code to improve governance practices, particularly when it comes to board appointments and composition, APRA deputy chair Helen Rowell said.

Fintech regulatory sandbox draft legislation released

KARREN VERGARA  |  WEDNESDAY, 25 OCT 2017
The Federal Government has released regulatory sandbox draft legislation in an effort to allow fintechs to test financial services and products without the burden of an AFSL.

White-collar crime penalties to skyrocket

KARREN VERGARA  |  TUESDAY, 24 OCT 2017
ASIC could soon impose substantial civil penalties and lengthy prison time for financial services corporations and employees guilty of misconduct, a review of its enforcement powers has found.

ANZ and ASIC settle over BBSW case

DARREN SNYDER  |  MONDAY, 23 OCT 2017
ANZ and the Australian Securities and Investments Commission have reached a confidential and in-principle agreement to settle court action relating to the Australian bank bill swap rate market.

CBA chair defends executive bonuses

KARREN VERGARA  |  MONDAY, 23 OCT 2017
The Commonwealth Bank is standing by the way it rewarded bonuses to senior executives between 2015 and 2016, the period it was made aware of potential anti-money laundering and counter-terrorism law breaches, a public inquiry has found.

BEAR should apply to insurance bosses: Spot poll

KARREN VERGARA  |  MONDAY, 23 OCT 2017
The Banking and Executive Accountability Regime (BEAR) should be widened to executives of life insurance companies, the latest spot poll results shows.

BEAR closer to legislation

KARREN VERGARA  |  FRIDAY, 20 OCT 2017
The Banking Executive Accountability Regime (BEAR) is one step closer to being legislated with the Turnbull Government yesterday referring its Bill to the House of Representatives.

ASIC chair nominee withdraws candidacy

ALEX BURKE  |  FRIDAY, 13 OCT 2017
The Government is now searching for a new candidate to replace Greg Medcraft as chair of ASIC as its nominee has withdrawn from the race.

ASIC outlines industry funding costs

ALEX BURKE  |  MONDAY, 9 OCT 2017
ASIC has released the forecast regulatory costs for industry participants as part of its new industry funding model.