July
John Setka – finally – leaves Incolink
No individual is bigger than the union, but Setka thought he was bigger than a CFMEU redundancy fund for a while.
- Hannah Wootton
ACCC wants banks to make foreign exchange calculators more accurate
The regulator has proposed changes to FX calculators to ensure banks subtract fees, so customers have genuine transparency.
- James Eyers
‘Risks elevated’: APRA holds banks’ mortgage rate buffer at 3pc
APRA said an uncertain economy, geopolitical instability, high household debt and inflation remain key risks for banks, compelling it to keep the loan buffer intact.
- Updated
- James Eyers and Jonathan Shapiro
- Analysis
- White collar crime
Inside the push to break up ASIC
ASIC chairman Joe Longo says the corporate cop is finally turning a corner, but there are plenty of critics who think the only answer for ASIC is ‘radical change’.
- Ronald Mizen
- Analysis
- Big four
Could ANZ’s trading scandal trigger executive accountability laws?
ASIC declined to say whether its ANZ investigation involved the Financial Accountability Regime. But an ANZ update this week was speaking the language.
- Updated
- James Eyers
- Opinion
- Opinion
We’re cracking down on market-moving media leaks
ASIC has begun a targeted review of apparent leaks to media. Confidentiality rules will be under scrutiny.
- Joe Longo
Trim mortgage ‘risk weights’ to help first home buyers: Barrenjoey
Barrenjoey called on APRA to allow banks to reduce mortgage “risk weightings” for first-time borrowers and for ASIC to drop HECS debt from responsible lending.
- James Eyers
‘I’d be rolling over my money’: Murray’s worry on Cbus-CFMEU links
Former bank boss David Murray says the latest CFMEU revelations reaffirm his view that all superannuation board members should be independent.
- Hannah Wootton
Architects, fire engineers, building surveyors fingered over cladding
Victoria’s combustible cladding crisis shows the permit system failed to ensure compliance with building rules, a new government agency report shows.
- Michael Bleby
Insignia fined $10.7m but share price soars
The regulator slammed the financial services giant for “still struggling with foundational issues” such as failing to put members’ money into default MySuper products.
- Hannah Wootton
Booming Cash Converters revenues point to squeeze on the poor
The ASX-listed pawnbroker told investors the increase was partly tied to “mainstream finance” being “more difficult to access” for many of its customers.
- James Eyers
APRA puts onus on Cbus to ensure CFMEU directors are fit, proper
Senators have called for the construction industry fund to cut ties with the CFMEU amid allegations of criminality at the union. The prudential regulator says it is up to superannuation fund boards.
- Hannah Wootton
Resurgent Zip raises cash and pays big break fee to eliminate its debt
Zip has indicated it will push the accelerator on growth in the United States despite regulators investigating whether it has violated consumer protection laws.
- James Eyers
Nina lost $11,600 to a scam. Bendigo Bank won’t help her
When Nina Merrilees was scammed in 2022, she was shocked the banks didn’t help her. New research shows most Australians think they should have.
- Hannah Wootton
- Exclusive
- Gaming & wagering
‘Concerning’ offshore lotteries, online keno face crackdown
Communications Minister Michelle Rowland is assessing whether more regulation is required.
- Zoe Samios
This ASIC boss was scammed. She has a warning for you
When Karen Chester bought shoes in a sale last month, she did not expect to be scammed. The fact she was shows the urgent need for reforms.
- Hannah Wootton
ASIC queried Qantas’ knowledge of ACCC investigation as shares fell
The regulator wrote to the competition watchdog requesting a “a better understanding” of the probe into ticket sales on cancelled flights, emails reveal.
- Vesna Poljak and Kylar Loussikian
Labor plays down call to break up ASIC, talks up whistleblower rewards
The Australian Securities and Investments Commission was on Wednesday accused of being a “toothless tiger” in the final report of a 20-month Senate inquiry.
- Ronald Mizen
Call for ‘toothless tiger’ ASIC to be split in two
A 20-month Senate inquiry found the watchdog should be split into a companies regulator and a separate financial conduct authority.
- Ronald Mizen
ANZ lashed for charging fees to dead people
The Banking Code Compliance Committee said deficiencies in the bank’s compliance frameworks for dealing with deceased estates were “deeply concerning”.
- James Eyers
