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Regulatory

Labor renews calls for banking Royal Commission

EMMA RAPAPORT  |  MONDAY, 24 APR 2017
Senate Economics References Committee chairman Chris Ketter has justified Labor's calls for a Royal Commission into the banking and financial services sector, citing a flood of angry consumer complaints.

ASIC bans company director

JAMIE WILLIAMSON  |  FRIDAY, 21 APR 2017
A former director of a Melbourne-based investment banking securities dealer and asset management firm was banned from providing financial services by ASIC.

Banks must overhaul product-based incentives

KARREN VERGARA  |  WEDNESDAY, 19 APR 2017
Retail banking practices don't carry "significant systemic risks" that deliver poor customer outcomes, an independent review has found.

Advisers to be judged by peers

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2017
Whether or not individuals in financial services should be banned for misconduct may be decided by their peers, with ASIC calling on the industry to consult on the establishment of a new panel.

ASIC cancels responsible entity AFSL

EMMA RAPAPORT  |  WEDNESDAY, 12 APR 2017
The Australian Securities and Investment Commission cancelled the AFSL of a responsible entity for failing to comply with a number of its key obligations as a financial services licensee.

Financial advice standards body revealed

JAMIE WILLIAMSON  |  MONDAY, 10 APR 2017
The much-anticipated standards body for financial advice has been established, setting in motion the implementation of the professional standards legislation.

ASIC cancels suspended AFSL

EMMA RAPAPORT  |  THURSDAY, 6 APR 2017
ASIC has cancelled the Australian financial services licence of Parramatta-based company Rural & General Insurance Broking for failing to comply with legal obligations and licence conditions.

Banking scrutiny to escalate: ABA

KARREN VERGARA  |  THURSDAY, 6 APR 2017
The Australian Bankers' Association's new chief executive warned banks that the unprecedented level of pressure and scrutiny, and rate of change they are facing will only escalate and shouldn't be underestimated.

ASIC wins first court action for FoFA breaches

EMMA RAPAPORT  |  WEDNESDAY, 5 APR 2017
Corporate regulator ASIC successfully brought its first action against a licensee for breach of the Future of Financial Advice reforms in the Federal Court.

Adviser ban upheld by tribunal

KARREN VERGARA  |  TUESDAY, 4 APR 2017
The Administrative Appeals Tribunal (AAT) affirmed the corporate regulator's decision to ban a former client adviser for five years.