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Regulation

Government passes foreign investor fee legislation

The Property Council of Australia (PCA) has warned that the fee increase could put the government’s housing targets “at risk”.

HSBC Bank pays $33k in alleged CDR breach penalties

The non-major bank has paid penalties following two infringement notices from the ACCC.

Government introduces legislation to ‘modernise’ financial system

The federal government has introduced new legislation to bolster regulatory arrangements for the country’s financial market infrastructure.

‘Time is right’ for government-backed RMBS: Greg Medcraft

The AFG chairman and former ASIC chair says the time is now right to bring about the competition inquiry’s ‘compelling’ recommendation for a public RMBS.

Mortgage changes recommended by economics committee

The House standing committee on economics has released its Better Competition, Better Prices, putting forward a range of recommendations on mortgages.

APRA announces system-wide stress test

The financial system will undergo its first system-wide stress test in 2025, the prudential regulator has announced.

ANZ settles credit card class action

The major bank has moved to settle a class action lawsuit from 2021.

CSLR releases credit intermediary levy costs

Estimates have been released for the first and second levy periods that will fund claims from eligible consumers who have been the victims of financial misconduct.

BNPL to come under credit licensing and RLOs

New legislation for the buy now, pay later industry has been released for consultation, bringing in licensing and responsible lending obligations for the first time.

Banks show over 30% decrease in scam losses

The federal government’s crackdown on scammers has shown a drop in scam-related losses for the financial service industry.

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