banks

Policy & Regulation

Shipton defends ASIC’s close relationship with bank execs

The frequent contact between ASIC commissioners and the chief executives and boards of the institutions they regulate is purely professional, ASIC’s chair has told the Ro...

Financial planning

BTFG execs paid price for RC issues

Westpac chief executive, Brian Hartzer has confirmed that senior executives within BT Financial Group suffered significant remuneration consequences for issues raised at ...

Funds management

Big four move into red

The big four banks have moved into the red over the past week, with Westpac falling just under nine per cent....

Funds management

Australian dividend payouts lag global peers

Australian dividends were the weakest in the developed world with payouts falling 2.2 per cent, according to Janus Henderson....

Policy & Regulation

RC probes causes of misconduct

The Royal Commission will today begin its final round of hearings looking at what caused the misconduct and what can be done to fix those causes....

Big Aussie banks see profits fall in 2018

The big banks have seen a fall in aggregate cash profits for the 2018 full year, after they restructured and simplified their business models in an effort to regain trust...

Policy & Regulation

Despite everything, people still trust their banks

New research from Deloitte has revealed that, despite everything that has been heard at the Royal Commission, most people still trust their banks....

Financial planning

Advice carve-outs undermine RC findings, says ISA

Industry Super Australia has accused the Government of caving into the retail banks and the wealth management sector in allowing ‘carve-outs’ from the design and distribu...

Policy & Regulation

Will bank staff be mistaken for advisers?

The Australian Baking Association has warned that new Design and Distribution laws may result in bank staff being mistaken for advisers....

Financial planning

Big Four hit hardest in satisfaction ratings

The Royal Commission has unsurprisingly hit consumers’ satisfaction with the banks, with negative sentiment toward the Big Four accounting for most of the drop....

Policy & Regulation

Poor breach reporting a lead indicator for ASIC embedding

The Australian Securities and Investments Commission has signalled that financial institutions with a poor breach reporting record are likely to find themselves dealing w...

Policy & Regulation

Bank divestments will increase competition says ASIC

The Australian Securities and Investments Commission has forecast a ‘new competitive dynamic’ in the wake of the banks divesting their insurance and wealth management bus...

Financial planning

Customer-owned banking sector in “different ballpark”

The customer-owned banking sector is the clear leader when it comes to customer satisfaction and advocacy, new figures show....

Policy & Regulation

Banks pledge to improve fraud protection

Five Australian banks have agreed to improve their compliance measures and controls for deposit accounts that can be operated by a third party, such as a financial advise...