Regulators

Banks set a way forward on open banking

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The banking industry has developed a recipe for a successful open banking regime in Australia that will revolutionalise customers’ banking experience and enable them to make more informed choices.

ASIC confirms new CIO

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ASIC has appointed a new chief information officer. Jo Harper has been acting information chief since February following Wendy Bryant's departure and has now been confirmed in the role. She joined ASIC in 2013 as senior manager, IT assurance and later became a program director.

Draft Legislation – Banking Executive Accountability Regime

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The Turnbull Government is continuing to deliver on strengthening accountability in the banking system, today releasing exposure draft legislation for the Banking Executive Accountability Regime (BEAR).

Big bank mergers: ACCC wants 'four pillars' policy examined

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ACCC chairman Rod Sims says the impact of the "four pillars" policy on competition in banking deserves "serious thought". Photo: Pat Scala

The consumer watchdog wants the "four pillars" policy that prevents big bank mergers to be put under the microscope, saying there is an argument it insulates the banks from fierce competition.

ACCC concerned regulations boost big banks

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The ACCC is concerned that regulation is giving the big four banks an unfair advantage. The competition watchdog has expressed concern that big four bank profits are being boosted by regulation rather than the lenders' own performance.

Broaden ASIC banning powers: Report

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The corporate regulator could soon have increased power to ban "unfit" senior managers, directors and officers of financial services companies. This is the key recommendation the ASIC Enforcement Review Taskforce flagged in its sixth report aiming to reform the regulator's banning powers of individuals working in the financial services and credit sectors.

NAB calls for broker ‘conflicts register’

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Major lender National Australia Bank (NAB) has proposed the creation of a conflicts register so brokers can record all soft dollar benefits they receive from lenders.

‘Big four’ banks change small business loan contract rules

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Carnell says the banks should also consider extending the cover to small business loan facilities up to $5 million

ASIC, ASBFEO welcome changes agreed to by the banks - The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and the Australian Securities and Investments Commission (ASIC) have welcomed new contract agreements from the ‘big four’ banks.

ASIC consults on new financial benchmark regime

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The corporate regulator has proposed a new regulatory regime for financial benchmarks including the bank bill swap rate, the consumer price index and the cash rate.

ASIC consults on new financial benchmark regime

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The corporate regulator has proposed a new regulatory regime for financial benchmarks including the bank bill swap rate, the consumer price index and the cash rate.

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Regulators

Banks set a way forward on open banking

The banking industry has developed a recipe for a successful open banking regime in Australia that will revolutionalise customers’ banking experience and enable them to make more informed choices.

ASIC confirms new CIO

ASIC has appointed a new chief information officer. Jo Harper has been acting information chief since February following Wendy Bryant's departure and has now been confirmed in the role. She joined ASIC in 2013 as senior manager, IT assurance and later became a program director.

Draft Legislation – Banking Executive Accountability Regime

The Turnbull Government is continuing to deliver on strengthening accountability in the banking system, today releasing exposure draft legislation for the Banking Executive Accountability Regime (BEAR).

Big bank mergers: ACCC wants 'four pillars' policy examined

The consumer watchdog wants the "four pillars" policy that prevents big bank mergers to be put under the microscope, saying there is an argument it insulates the banks from fierce competition.

ACCC concerned regulations boost big banks

The ACCC is concerned that regulation is giving the big four banks an unfair advantage. The competition watchdog has expressed concern that big four bank profits are being boosted by regulation rather than the lenders' own performance.

Broaden ASIC banning powers: Report

NAB calls for broker ‘conflicts register’

Major lender National Australia Bank (NAB) has proposed the creation of a conflicts register so brokers can record all soft dollar benefits they receive from lenders.

‘Big four’ banks change small business loan contract rules

ASIC, ASBFEO welcome changes agreed to by the banks - The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and the Australian Securities and Investments Commission (ASIC) have welcomed new contract agreements from the ‘big four’ banks.

ASIC consults on new financial benchmark regime

The corporate regulator has proposed a new regulatory regime for financial benchmarks including the bank bill swap rate, the consumer price index and the cash rate.

ASIC consults on new financial benchmark regime

The corporate regulator has proposed a new regulatory regime for financial benchmarks including the bank bill swap rate, the consumer price index and the cash rate.

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