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Regulation

regulation

27 November 2019 • By Lachlan Maddock • 1 min read

Westpac allegations ‘appalling’: Lowe

RBA Governor Philip Lowe has called on Westpac to raise its standards as other banks scramble to avoid the same fate. “We demand very high ...

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APRA proposes super insurance reforms

APRA has opened public consultation for revisions to its prudential standard around insurance in superannuation, angling for changes such as a maximum ...

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Afterpay breached money laundering legislation

Afterpay breached money laundering law because of incorrect legal advice, according to an auditor. The buy-now, pay-later giant was the subject of ...

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Westpac circles the wagons

Westpac has launched an $80 million response to AUSTRAC’s allegations, but APRA might want a piece of the pie. The bank’s response plan, announced ...

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Westpac ‘truly sorry’ about failures linked to child sex abuse

The major bank’s chairman has said the possibility that any child has been hurt as a result of the bank’s failings is “deeply distressing”

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Westpac failure linked to child sex trafficking

The financial crimes watchdog has alleged that Westpac’s failure to appropriately monitor its customers meant they did not identify 12 people ...

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AUSTRAC takes action against Westpac over 'systemic non-compliance'

BREAKING AUSTRAC has applied for civil penalty orders against Westpac over 23 million contraventions of money laundering laws.  AUSTRAC alleges ...

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APRA lays out culture game plan

APRA has released its plans to scale up its regulation of governance, culture, remuneration and accountability across the finance sector, with ...

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RBA almost cut on Cup Day

What was widely considered to be a remote possibility was being given serious consideration in Martin Place as thousands of punters flocked to ...

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WTO reform could open new front in trade war

Another battle in the US-China trade war has been raging out of sight and could impact the forthcoming phase one deal. In July, a presidential ...

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