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Regulation

ASIC to target cross-selling

The corporate regulator has revealed to a parliamentary inquiry it has asked the major banks for an audit of their cross-selling practices.

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Former CBA exec argues case for less SMSF regulation

A former CBA executive believes regulators should not muscle in on the SMSF space and trustees should be free to make mistakes with their retirement savings.

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Capital rules give big four a 14bp advantage: APRA

New analysis from the Australian Prudential Regulation Authority has revealed that regulatory capital rules give the four major banks a 14-basis point advantage over their smaller ...

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Former adviser jailed for fraud

A former financial adviser, who was permanently banned by ASIC earlier this year, has been sentenced to seven years imprisonment on fraud charges.

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Rate hikes and bank deregulation on the cards

One of Australia’s leading economists says renewed optimism about Donald Trump’s fiscal stimulus plans could see the local cash rate begin to rise as early as 2018.

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APRA tipped to target SMSF loans

The prudential regulator may soon inform lenders that they are not allowed to lend to SMSFs that fail to meet certain benchmark requirements with their fund’s balance, one SMSF specialist ...

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APRA likely to ‘tighten the screws’ further

A senior economist has predicted that APRA is likely to add further directives on banks’ lending standards to help cool Sydney and Melbourne’s property markets “before they get totally out ...

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'Independence' claims under ASIC scrutiny

ASIC has indicated it will consider prohibiting financial planning firms from calling themselves ‘independently-owned’ unless they meet the Corporations Act definition of independence.

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Treasurer favours mortgage curbs over ‘sledgehammer’ approach

Treasurer Scott Morrison is confident APRA’s intervention in the mortgage market “should help” guard against a systemic deterioration in lending standards.

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Regulator backs non-financial CEO targets

The prudential regulator has supported the inclusion of non-financial performance bonuses in the remuneration of Australian bank chief executives.

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