regulation

Policy & Regulation

Westpac admits fault, agrees to $35 mil penalty

Westpac has admitted breaching its responsible lending obligations when providing home loans, and agreed to a $35 million civil penalty to resolve Federal Court proceedin...

Policy & Regulation

Should ASIC personnel get bonuses?

A Parliamentary Committee has been told that public servants working within the Australian Securities and Investments Commission are eligible to earn bonuses, but at leas...

Policy & Regulation

Increased regulation the biggest challenge

New research conducted by RBC Investor and Treasury Services has confirmed that regulation is the big challenge facing asset managers....

Policy & Regulation

Has ASIC lost its regulatory authority?

The Royal Commission has been asked to consider whether, by dealing with banks and financial services institutions via press releases and enforceable undertakings rather ...

Policy & Regulation

MSWMA called out for false independence claim

Morgan Stanley Wealth Management Australia has been compelled by the Australian Securities and Investments Commission to amend a false claim of independence for its advic...

Policy & Regulation

ACT’s Zed Seselja gets financial services portfolio

Prime Minister, Scott Morrison has appointed ACT right wing Liberal Senator, Zed Seselja to the financial services portfolio....

Policy & Regulation

AAT upholds TPB’s decision-making approach

The Administrative Appeals Tribunal has affirmed the Tax Practitioners Board’s termination for tax agent Ranjit Dadwal’s tax agent registration, following criminal conduc...

Policy & Regulation

ASIC calls on businesses to fulfil funding obligations

The regulator has called on businesses to submit some operational information before 27 September 2018 as part of industry funding arrangements introduced last year....

Policy & Regulation

ASIC will get to write its own code of conduct

The Australian Securities and Investments Commission has confirmed that it will get to write its own code of conduct once it becomes separated from the Australian Public ...

Policy & Regulation

COBA campaign calls for new banking regulation approach

The Customer Owned Banking Association is set to launch its #MoreThan4 campaign in Canberra, calling for a move away from a one-size-fits-all approach to banking regulati...

Policy & Regulation

RC questions whether ASIC used its powers

The Royal Commission has acknowledged that the Australian Securities and Investments Commission wants more powers but has questioned whether it has ever used all the powe...

Policy & Regulation

Government creates second APRA deputy chair role

In an effort to strengthen the regulator, the Turnbull Government has nominated Treasury veteran John Lonsdale to fill a newly created second deputy chair role at the Aus...

Policy & Regulation

DomaCom judgment represents “milestone” for SMSFs

The Full Federal Court has handed down its judgment in the appeal by Aussiegolfa Pty Ltd, finding there was no breach of the sole purpose test. ...

Policy & Regulation

AUSTRAC fine sees CBA profit decline

The $700 million AUSTRAC fine has acted as a genuine drag on the Commonwealth Bank’s profit, which was down four per cent to $9,375 million....

Policy & Regulation

Federal Court grants ASIC’s orders against Linchpin

The Federal Court has allowed ASIC’s application that Linchpin Capital and Endeavour Securities operated an unregistered managed investment scheme....