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Royal commission releases interim report

Posted in: Finance
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2018 September 28

The interim report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been released, including a plethora of policy-related issues impacting the finance industry. The report covers the “policy related issues” arising from the first four rounds of public hearings, which covered consumer lending, financial advice, SME loans and … Continue reading Royal commission releases interim report

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Banking royal commission shows it’s a jungle out there and we must protect ourselves

Posted in: Finance
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2018 September 15

Just when you thought the royal commission into misconduct in the financial services sector couldn’t get any worse, it does. The latest round of inquiries into life insurance, and the startling revelations that have come from them, have once again shown that the banks, and others, are often prepared to put profits well ahead of … Continue reading Banking royal commission shows it’s a jungle out there and we must protect ourselves

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The corporate regulator and the Australian Banking Association have agreed on a revised Code of Banking Practice.

Posted in: Finance
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2018 August 1

The corporate regulator and the Australian Banking Association have agreed on a revised Code of Banking Practice, following months of disagreement. The Australian Securities and Investments Commission (ASIC) has approved the Australian Banking Association’s (ABA new Code of Banking Practice (COBP), set to commence operation on 1 July 2019. The new code has been approved … Continue reading The corporate regulator and the Australian Banking Association have agreed on a revised Code of Banking Practice.

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First Royal Commission Hearing into Financial Services Industry

Posted in: Finance
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2018 February 12

Commissioner Kenneth Hayne QC and senior counsel Rowena Orr gave opening statements today at the first public hearings in Melbourne into misconduct in the banking, superannuation and financial services industry. The Banking Royal Commission has been asked to investigate Australia’s $430 billion dollar unregulated commercial finance industry as part of the Commission’s inquiry. Financial literacy … Continue reading First Royal Commission Hearing into Financial Services Industry

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A Royal Commission Report by Shane Reynolds

Posted in: Finance
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2018 January 24

On 23 January 2018 Shane Reynolds filed his submission with the Commissioner High Court Judge, The Honourable Kenneth Madison Hayne AC. Shane Reynolds report addresses the conduct of financial services entities as defined by the terms of reference, the effectiveness of mechanisms for redress for consumers of financial services who suffer detriment as a result … Continue reading A Royal Commission Report by Shane Reynolds

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Royal Commission hearings to start next month

Posted in: Finance
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2018 January 23

The Royal Commission into misconduct in the banking, superannuation and financial services industry including broking will hold its initial public hearing in Melbourne next month. The first hearing will take place at 10am on Monday, 12 February 2018, at 11 Exhibition Street in Melbourne and will be open to the public. At this hearing, the … Continue reading Royal Commission hearings to start next month

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Senate Lending to Primary Production Customers Report

Posted in: Finance
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2018 January 12

Senators have released a damning report on banks’ treatment of rural businesses, alleging their uncompromising approach to lending is driving some farmers to consider suicide. The shocking allegations, based on the first-hand accounts of farmers, and published just a week after the government announced a royal commission into banks’ misconduct, painted the picture of a … Continue reading Senate Lending to Primary Production Customers Report

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Banking Royal Commission – Standing Order No. 30, postponed parliament won’t stop MPs

Posted in: Finance
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2017 November 20

The Federal Government is trying to deny the Australian people a Royal Commission into the Banks. The Federal Government is postponing Parliament to 4 December until after the New England by-election (2 December) so that it’s numbers are not challenged on the floor of Parliament. On 27 March 2017, the Hon Bob Katter introduced to … Continue reading Banking Royal Commission – Standing Order No. 30, postponed parliament won’t stop MPs

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All that glitters: Developers, deals and donations on the Gold Coast.

Posted in: Finance
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2017 September 18

The Gold Coast is the epicentre of political donations by developers to local Councillors. The above story was reported by Mark Willacy and presented by Sarah Ferguson and aired on Monday 18th September 2017 by ABC 4Corners. The story in-particular highlights a transaction undertaken by Crestden Pty Ltd in which controversial Cr Tate (Gold Coast Mayor) … Continue reading All that glitters: Developers, deals and donations on the Gold Coast.

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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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