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Regulation

regulation

09 January 2020 • By Reporter • 1 min read

NAB tipped to fork out $500m for AUSTRAC breaches

The major bank is yet to face the wrath of AUSTRAC after reporting a number of compliant breaches to the financial crime regulator. In its annual ...

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Government releases draft legislation on APRA-ASIC cooperation

The Morrison government has released for consultation draft legislation that will oblige ASIC and APRA to co-operate with one another, following a ...

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RBA could cut again

The RBA looks set to slash rates again following the release of its December minutes. While the RBA board noted that the economy appeared to have ...

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NAB puts dollar value on ASIC action

NAB chairman Philip Chronican has commented on ASIC’s fee-for-no-service action by stating that the issue only relates to around $1.3 million in ...

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ASIC takes major bank to court

BREAKING ASIC has commenced civil penalty proceedings in the Federal Court against a Big Four bank, seeking findings of several thousand ...

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Westpac woes worsen as APRA BEARs its teeth

With the bank facing no less than three investigations, how much worse can it get? Nobody was shocked when APRA announced their investigation of ...

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ASIC sues life insurance giant

ASIC has commenced proceedings in the Federal Court against a major life insurer for alleged breaches of the ASIC Act, the Corporations Act and ...

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Rate cuts working: T. Rowe Price

The RBA’s rate cuts are beginning to affect the Australian economy, according to analysis from T. Rowe Price. Randal Jenneke, head of Australian ...

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Digital bank gains restricted ADI license

APRA has granted a digital bank founded by a former BNP Paribas executive an authorised deposit-taking institution license. As a restricted ADI, ...

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APRA delays product responsibility consultation

APRA has announced it will delay a proposed product responsibility consultation integral to its implementation of changes to the Banking Executive ...

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