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Complexities putting AI implementation at a ‘standstill’
A new report has flagged risks associated with the implementation of AI technology, which could be inhibiting financial services firms from reaping the benefits of ...
LENDER • Wed, 23 Oct 2019
Westpac eases investor lending policy
The major bank has revised its investor lending policy, increasing the maximum LVR for interest-only loans.
LENDER • Mon, 21 Oct 2019
Majors out of favour with investor, IO borrowers
Investors and borrowers seeking interest-only repayment terms are flocking in droves to Australia’s non-major lenders, according to latest research.
BORROWER • Sun, 20 Oct 2019
Treasury takes net of offset standardisation off the table
The industry will need to self-regulate in order to standardise the calculation of net of offset payments, with Treasury reluctant to enact such reforms via the ...
COMPLIANCE • Thu, 17 Oct 2019
Trail ‘at risk’ in best interests duty bill
Draft regulations in the government’s best interests duty bill could, in practice, prohibit the payment of trail commissions, aggregators have told Treasury.
COMPLIANCE • Wed, 16 Oct 2019
Aussie calls for prescription in best interests duty
The broking franchise group has called on Treasury to introduce prescriptive subordinate regulations for matters where there is a “clear consensus” regarding proper or ...
AGGREGATOR • Tue, 15 Oct 2019
Disclosure ‘not the silver bullet’ for consumer protection
ASIC has released a new report into the effectiveness of financial product disclosure, in which it has sought to debunk the “myth” that disclosure “sufficiently” protects ...
COMPLIANCE • Tue, 15 Oct 2019
FBAA backs new mortgage pricing inquiry
The head of the FBAA has expressed strong support for the ACCC’s new inquiry into mortgage pricing, stating that banks need to be “far more transparent and accountable” ...
BROKER • Mon, 14 Oct 2019
CBA, Westpac lose ground in broker space
The major banks’ share of the third-party channel has dwindled over the past quarter, according to new data from AFG.
BROKER • Sun, 13 Oct 2019