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Regulation

regulation

22 July 2020 • By Sarah Simpkins • 1 min read

APRA to issue new dividend directions for banks

APRA is set to update its guidance asking the banks to freeze dividends next week, with the regulator’s chair stating his body will be acting to avoid ...

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ASIC concedes to Westpac responsible lending ruling

ASIC has indicated it will not appeal to the High Court on the infamous “red wine and Wagyu steak” responsible lending case against Westpac, after it ...

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Derivatives issuer cops suspension

ASIC has suspended the licence of a controversial retail over-the-counter derivatives issuer until 23 September 2020.  Union Standard International ...

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ASIC taken to task for lack of action on industry funds

The corporate regulator has declined to take action against two major industry super funds around potential breaches of disclosure rules, prompting a ...

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ASIC grilled over remediation failures

ASIC has been taken to task for its failure to bring the big four banks into line after it was revealed they were splurging on consultants rather than ...

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Deutsche Bank cops $216.1m penalty for Epstein transactions

Deutsche Bank and a number of its US arms have agreed to pay US$150 million ($216.1 million) in penalties for compliance failures around its dealings ...

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ASIC puts COVID disclosures under microscope

ASIC has issued a stern warning to companies that they must “tell the story” of how their business has been impacted by COVID-19 or face the ...

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APRA slaps Suncorp trustee with imposed condition

APRA has issued directions and imposed a new license condition on Suncorp Portfolio Services after investigating a matter referred by the royal ...

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APRA imposes condition on Colonial First State

APRA has imposed a new licence condition on a big four bank’s superannuation business after a further investigation into a referral from the Royal ...

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AMP defends fee-for-no-service refunds into own products

A major wealth management institution has defended its decision to place client money refunded as part of its “fee-for-no-service” remediation program ...

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