ASIC rejects criticism of new ‘mandate’
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Chair of the corporate regulator, James Shipton, has addressed “push back” from ASIC’s “clear mandate” to use its new enforcement ...
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Thinktank enters residential SMSF market as banks exit
Thinktank has confirmed its entry into the residential self-managed super fund LRBA market, following a wave of exits by banks.
CoreLogic updates Property Hub platform
The second iteration of CoreLogic’s Property Hub, which aims to digitise the mortgage approval process and provide more transparent valuat...
ANZ remediation costs have ‘more than doubled’
The major bank has revealed that it has paid over $200 million in remediation to customers over the past few years, eclipsing the remediatio...
NAB questioned on ‘catastrophic’ fraud oversight
The CEO of NAB was grilled about how a $40 million fraud case went undetected for years until a bank staff member blew the whistle.
Structural complexities a ‘noxious weed’ in banking
APRA chairman Wayne Byres has outlined the risks to organisational and cultural resilience across Australia’s banking sector, particularly...
Long-term Macquarie executive to step down
Macquarie has announced that its head of commodities and global markets and long-term executive committee member will step down from his rol...
Interest-free loans flagged as alternative to housing tax
A government-financed mortgage deposit fund for first home buyers has been proposed as an alternative to the federal Labor opposition’s housing affordability policy.
ALP pledges to ‘double’ funding for low-cost loans
The federal Labor opposition has committed to provide $60 million in funding for the issuance of loans to “vulnerable Australians” as a...
APRA clamping down on P2P lending models
The prudential regulator has warned that it would take action if ADIs aren’t more diligent in identifying and mitigating risks before ent...
