regulation

Policy & Regulation

ASIC calls on businesses to fulfil funding obligations

The regulator has called on businesses to submit some operational information before 27 September 2018 as part of industry funding arrangements introduced last year....

Policy & Regulation

ASIC will get to write its own code of conduct

The Australian Securities and Investments Commission has confirmed that it will get to write its own code of conduct once it becomes separated from the Australian Public ...

Policy & Regulation

COBA campaign calls for new banking regulation approach

The Customer Owned Banking Association is set to launch its #MoreThan4 campaign in Canberra, calling for a move away from a one-size-fits-all approach to banking regulati...

Policy & Regulation

RC questions whether ASIC used its powers

The Royal Commission has acknowledged that the Australian Securities and Investments Commission wants more powers but has questioned whether it has ever used all the powe...

Policy & Regulation

Government creates second APRA deputy chair role

In an effort to strengthen the regulator, the Turnbull Government has nominated Treasury veteran John Lonsdale to fill a newly created second deputy chair role at the Aus...

Policy & Regulation

DomaCom judgment represents “milestone” for SMSFs

The Full Federal Court has handed down its judgment in the appeal by Aussiegolfa Pty Ltd, finding there was no breach of the sole purpose test. ...

Policy & Regulation

AUSTRAC fine sees CBA profit decline

The $700 million AUSTRAC fine has acted as a genuine drag on the Commonwealth Bank’s profit, which was down four per cent to $9,375 million....

Policy & Regulation

Federal Court grants ASIC’s orders against Linchpin

The Federal Court has allowed ASIC’s application that Linchpin Capital and Endeavour Securities operated an unregistered managed investment scheme....

Policy & Regulation

Give us more powers, says APRA

The Australian Prudential Regulation Authority (APRA) has told the Productivity Commission it needs more powers and that its lack of powers has inhibited its ability to b...

Policy & Regulation

Less regulation needed for competition: COBA

The Productivity Commission’s competition report shows that “more and more regulation can be harmful to consumers because it weakens competition,” the Customer Owned Bank...

Policy & Regulation

PC recommends ACCC become industry “competition champion”

The Productivity Commission has recommended that the Australian Competition and Consumer Commission take on the role of “competition champion for the financial system”....

Policy & Regulation

ASIC approves ABA Code of Practice

ASIC has approved the Australian Banking Association’s new Banking Code of Practice following an independent review and stakeholder consideration....

Features

What has driven the exponential growth in regulatory costs?

Mike Taylor writes that if one thing has distinguished the past five years in the financial services it has been the exponential growth in regulatory and compliance costs...

Editorial

Regulating at whose cost and benefit?

Recent history has proved that creating more layers of regulation rarely represents a panacea for problematic industries, yet the financial services is being made to pay ...

Financial planning

Planners face tough distribution rules

The latest draft of the Government’s new legislation covering financial product design and distribution rules have confirmed the heavy obligations which will be carried b...