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Regulation

Regulator slams ‘mischievous’ breach reporting

Financial institutions are "abusing" their legal obligation to report significant compliance breaches to the regulator, argues ASIC chairman Greg Medcraft.

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APRA reshuffles senior executive team

The prudential regulator has announced a number of changes to its senior executive team including the appointment of Steve Matthews as executive general manager, corporate services.

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APRA boss reveals FSI stance

Competition and stability are not "mutually exclusive", argues APRA chair Wayne Byres, although too much competition can be destructive.

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Big four defrauded as Melbourne man pleads guilty

A Victorian man has pleaded guilty to submitting 350 fraudulent loan applications to numerous financial institutions, including the Commonwealth Bank, Westpac, St George Bank, Bankwest, Bank ...

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Regulators urged to promote financial services

According to a statement from the Centre for International Finance and Regulation, its research suggests digital financial services could improve “financial inclusion” but that the services ...

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Macquarie confident it will avoid wrath of regulator

Macquarie Bank is adamant it will not be targeted by APRA for growing its investor lending by more than 75 per cent in 12 months.

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South Africa to copy Australia’s regulation model

South Africa is undertaking one of its most significant regulatory reforms of the financial sector, and has proposed implementing Australia’s model.

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Fraud case sparks mortgage debate

A mainstream media figure has argued that banks and brokers must restore clarity on repayment responsibilities in light of a recent third-party scandal.

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ASIC sheds light on vertical integration probe

The corporate regulator has released details of its surveillance of vertically-integrated wealth managers, revealing it is on the lookout for mis-selling and advice failures.

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Regulator could favour banks over intermediaries

Industry veteran Kym Dalton has raised concerns that APRA may have a hidden agenda that is unfavourable towards brokers as the regulator looks to tighten controls on investor lending.

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