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Commonwealth Bank to face independent inquiry from banking regulator APRA

  • Posted in: Finance
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  • 2017 August 28

The banking regulator today has said it will establish an independent inquiry into the Commonwealth Bank. The Australian Prudential Regulation Authority (APRA) said the inquiry would focus on governance, culture and accountability frameworks and practices within Australia’s biggest bank. The APRA inquiry follows Federal Court action by the financial intelligence agency AUSTRAC, which has accused … Continue reading Commonwealth Bank to face independent inquiry from banking regulator APRA

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Rural Banking Inquiry Sydney 2017 – Lending to Primary Production Customers

  • Posted in: Finance
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  • 2017 August 26

On 16 February 2017 the Senate established the Select Committee on Lending to Primary Production Customers to inquire and report on the regulation and practices of financial institutions in relation to primary production industries, including agriculture, fisheries and forestry. A public hearing into Lending to Primary Production Customers  was heard on Friday 11 August 2017 at … Continue reading Rural Banking Inquiry Sydney 2017 – Lending to Primary Production Customers

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Commonwealth Bank of Australia Shareholder Class Action

  • Posted in: Finance
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  • 2017 August 23

IMF Bentham is investigating and if appropriate will fund a proposed shareholder class action against the Commonwealth Bank of Australia (ASX:CBA) (CBA) in respect of an alleged failure to keep shareholders properly informed regarding its non-compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF Act) during the period from 17 August 2015 to 3 August … Continue reading Commonwealth Bank of Australia Shareholder Class Action

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Distressed loans and external administration

  • Posted in: Finance
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  • 2017 August 22

A person with a legal problem should seek help quickly. Many people suffer unnecessarily because they avoid consulting a lawyer when problems first arise. Often legal problems can be avoided and costs can be minimized if assistance is sought in the early stages. The term external administration includes administration, receivership and liquidation. Typically, whenever a … Continue reading Distressed loans and external administration

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Royal Commission into the finance industry by Shane Reynolds

  • Posted in: Finance
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  • 2017 August 13

During my career, I have been privileged to work with leading legal counsel such as Ian Temby QC, David Pritchard SC of St James’ Hall and Niall Coburn former Specialist Adviser to ASIC, who have made significant contributions to their fields. Ian Temby AO QC was the founding NSW Independent Commission Against Corruption (ICAC) Commissioner. … Continue reading Royal Commission into the finance industry by Shane Reynolds

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Deal shopping & Caveat Clauses

  • Posted in: Finance
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  • 2017 August 9

Finance practitioners are often faced with the difficulty of determining whether a borrower is genuine or simply trying to gain free information. Borrowers can shop around and it’s no bad refection on a broker or lender if they do, they’re just gauging the market. However, it is important to note that when you apply for … Continue reading Deal shopping & Caveat Clauses

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CALLS FOR A ROYAL COMMISSION INTO BANKS GROW LOUDER AS THIS WEEK CBA WAS ACCUSED OF SYSTEMIC LAW BREACHES!

Allegations of more than 50,000 breaches of anti-money laundering laws by the Commonwealth Bank have put pressure on Govt politicians to support legislation for a Royal Commission into the banks when Parliament returns next week. My recently published book “Get a Second Opinion Before You Sign” Lifting the Curtain on Lending Practices & the Australian … Continue reading CALLS FOR A ROYAL COMMISSION INTO BANKS GROW LOUDER AS THIS WEEK CBA WAS ACCUSED OF SYSTEMIC LAW BREACHES!

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