Regulators

ASIC has shown its systemic incompetence

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''ASIC throws whistleblowers to the wolves and tries to pretend they don't exist.'' Photo: Jim Rice

After ASIC's exposure as a "weak and hesitant regulator" in the Senate Inquiry last year, it has ramped up its activity level and is now desperate to look like it is doing its job.

Banks don't dob on their dodgy advisers for up to six months - ASIC

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Australia biggest banks are taking up to six months to notify the corporate watchdog when they find misbehaving advisers and frequently fail to properly check the background of the financial planners they employ.

ASIC and ASBFEO join forces to ensure bank lenders meet unfair contract laws

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Australian lenders including the country's big four banks have substantial work to do to eliminate unfair terms from their loan agreements, a joint review of small business standard form contracts undertaken by ASIC and the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has revealed.

Code of Banking Practice review final report published

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“The Code outlines how individual and small business customers can expect to be treated by their bank; its review is an important part of a range of industry reforms to make banking better,” ABA Chief Executive Steven Münchenberg said.

Sydney, 3 February 2017: The Australian Bankers’ Association has welcomed the report into small business lending practices

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Sydney, 3 February 2017: The Australian Bankers’ Association has welcomed the report into small business lending practices released today by the Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer MP.

APRA Monthly Banking Statistics - November 2016

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Australian Prudential Regulation Authority (APRA) Monthly Banking Statistics - November 2016

FOS welcomes Ramsay Review Interim Report

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The Financial Ombudsman Service (FOS) Australia welcomes the interim report into the review of the financial system’s external dispute resolution (EDR) and complaints framework (the Ramsay Review).

FOS should be benchmark in EDR merger

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The Financial Ombudsman Service (FOS) has used the results of a survey of financial counsellors on external dispute resolution (EDR) schemes to argue that while EDR schemes should merge, FOS' processes should be the benchmark in any merger.

ASIC understanding of how BBSW market and inter-bank lending works is 'embarassing': NAB

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National Australia Bank has denied rigging the key inter-bank lending rate and described parts of Australian Securities and Investments Commission's case as overly simplistic and "embarrassing".

ASIC Report 499 — A grevious indictment

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There can be no more grievous indictment of a service provider than that they continually charged for a service that was never provided, Mike Taylor writes.

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Regulators

ASIC has shown its systemic incompetence

After ASIC's exposure as a "weak and hesitant regulator" in the Senate Inquiry last year, it has ramped up its activity level and is now desperate to look like it is doing its job.

Banks don't dob on their dodgy advisers for up to six months - ASIC

Australia biggest banks are taking up to six months to notify the corporate watchdog when they find misbehaving advisers and frequently fail to properly check the background of the financial planners they employ.

ASIC and ASBFEO join forces to ensure bank lenders meet unfair contract laws

Code of Banking Practice review final report published

“The Code outlines how individual and small business customers can expect to be treated by their bank; its review is an important part of a range of industry reforms to make banking better,” ABA Chief Executive Steven Münchenberg said.

Sydney, 3 February 2017: The Australian Bankers’ Association has welcomed the report into small business lending practices

Sydney, 3 February 2017: The Australian Bankers’ Association has welcomed the report into small business lending practices released today by the Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer MP.

APRA Monthly Banking Statistics - November 2016

Australian Prudential Regulation Authority (APRA) Monthly Banking Statistics - November 2016

FOS welcomes Ramsay Review Interim Report

The Financial Ombudsman Service (FOS) Australia welcomes the interim report into the review of the financial system’s external dispute resolution (EDR) and complaints framework (the Ramsay Review).

FOS should be benchmark in EDR merger

The Financial Ombudsman Service (FOS) has used the results of a survey of financial counsellors on external dispute resolution (EDR) schemes to argue that while EDR schemes should merge, FOS' processes should be the benchmark in any merger.

ASIC understanding of how BBSW market and inter-bank lending works is 'embarassing': NAB

National Australia Bank has denied rigging the key inter-bank lending rate and described parts of Australian Securities and Investments Commission's case as overly simplistic and "embarrassing".

ASIC Report 499 — A grevious indictment

There can be no more grievous indictment of a service provider than that they continually charged for a service that was never provided, Mike Taylor writes.

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