Financial Regulation

September 2017

ASIC powers need to be extended for Banking Executive Accountability Regime – September 2017

Filed under: Economy and Finance, Financial Regulation,

The Government has welcomed the release by the ASIC Enforcement Review Taskforce of a position paper titled ‘ASIC’s power to ban senior officials in the financial sector’.

May 2017

Consultation on financial disputes framework – May 2017

Filed under: Economy and Finance, Financial Regulation, Politics, Australian Politics,

The federal Government has released a new framework for the resolution of financial disputes and invited public comment.

New universities reform package scraps fee deregulation – May 2017

Filed under: Economy and Finance, Financial Regulation, Employment and Education, Education, Politics,

Federal Education Minister Simon Birmingham says the Government will seek to drive better outcomes for both students and taxpayers as part of its latest suite of higher education reforms.

Consultation opened on draft regulations for ASIC industry funding – May 2017

Filed under: Economy and Finance, Finance, Financial Regulation, Trade and industry, Regulation,

The federal Government has released draft regulations on the operation of the industry funding model for the Australian Securities and Investments Commission (ASIC).

October 2016

Labor maintains Royal Commission call as bank chiefs front parliamentary committee - October 2016

Filed under: Economy and Finance, Banking, Financial Regulation, Politics,

The interrogation of the big four bank leaders by a parliamentary committee has done nothing to blunt Labor’s push for a royal commission into the banking sector.

July 2016

Leyonhjelm calls for greater Reserve Bank accountability

Filed under: Economy and Finance, Banking, Financial Regulation, Politics, Elections,

Re-elected Liberal Democrat Senator David Leyonhjelm will be campaigning for greater accountability on the part of the Reserve Bank of Australia.

May 2016

Australia steps up foreign bribery action – May 2016

Filed under: Australian Politics, Finance, Financial Regulation,

The Australian Government is increasing its efforts to tackle bribery in offshore jurisdictions.

April 2016

ASX loses share clearing monopoly – April 2016

Filed under: Economy and Finance, Finance, Financial Regulation, Politics, Australian Politics,

Treasurer Scott Morrison has announced changes that it says open the door to increased competition in the clearing of cash equities.

December 2015

Legislation to regulate credit card surcharges – December 2015

Filed under: Australian Politics, Financial Regulation, Consumers,

The Government has introduced legislation in federal Parliament to protect consumers from excessive card surcharging.

October 2015

Consumer protection focus of Turnbull Government response to Murray Inquiry – October 2015

Filed under: Australian Politics, Banking, Finance, Financial Regulation, Financial System Inquiry,

The Turnbull Government has announced key consumer protection measures in its response to the Murray Financial Services Inquiry.

August 2015

Treasury says credit card rates are ‘unresponsive’ – August 2015

Filed under: Australian Politics, Financial Regulation,

A survey of credit card comparison websites suggest that there are currently around 100 credit card brands in Australia offering over 250 products.

Regulatory inquiry into ‘payday lenders’ – August 2015

Filed under: Australian Politics, Financial Regulation,

Assistant Treasurer Josh Frydenberg has announced a regulatory review of the so-called “payday lending” industry.

March 2015

Derivatives infrastructure consultation – March 2015

Filed under: Australian Politics, Financial Regulation,

Treasury has published a discussion paper on potential changes to financial market infrastructures (FMIs) and invited submissions in response to it by March 27.

December 2014

The Financial System Inquiry – Banking

Filed under: Australian Politics, Financial Regulation,

The Final Report of the Financial System Inquiry says Australian banks should increase their capital levels to a point that ensures they are in the top 25 per cent of banks internationally.

November 2014

Changes planned to financial services disclosure

Filed under: Australian Politics, Financial Regulation,

The Australian Securities and Investments Commission is seeking feedback on proposals to make it easier for businesses to deliver financial services disclosures electronically while preserving choice for consumers.

September 2014

ASIC faces renewed scrutiny over financial planners - September 2014

Filed under: Australian Politics, Financial Regulation,

The Australian Securities and Investments Commission says it has just 20 officers to monitor 50,000 financial planners.

June 2014

Financial Regulation: Cost recovery rules under review - 6 June 2014

Filed under: Australian Politics, Financial Regulation,

Treasury and the Australian Prudential Regulation Authority (APRA), have issued a discussion paper seeking submissions on the proposed financial institutions supervisory levies.

Financial Regulation: Changes likely to unclaimed money rules - 6 June 2014

Filed under: Australian Politics, Financial Regulation,

The federal Government has released a discussion paper on ways to improve provisions covering unclaimed moneys. Submissions on the paper close on July 11.

Financial Regulation: APRA publishes guidance on mortgage lending - 6 June 2014

Filed under: Australian Politics, Financial Regulation,

The Australian Prudential Regulatory Authority has published a draft Prudential Practice Guide (PPG) on residential mortgage lending, which constitutes the largest credit exposure in the Australian banking system.