regulation

Climate change threatens property values: RBA

by Sarah Simpkins • 22 Sep 2021

A number of regions could see a material decline in housing prices due to physical risk from climate change, according... READ MORE

Stamp duty, supply blocking housing affordability: REA

by Sarah Simpkins • 21 Sep 2021

Reforming stamp duty, increasing housing supply and further extending home-buyer assistance would help housing... READ MORE

Major bank apologises for ‘unacceptable’ CCI conduct

by Annie Kane • 16 Sep 2021

A big four bank has apologised to customers affected by “unacceptable” conduct in former CCI sales, which are now... READ MORE

Ex-finance broker sentenced on loan fraud

by Malavika Santhebennur • 16 Sep 2021

A former broker has been sentenced after pleading guilty to charges of fraud and giving false information.

Liberty backs new SME bank

by • 10 Sep 2021

A new bank targeting small businesses, backed by Liberty Financial Group, is set to launch after receiving a restricted... READ MORE

Guidance on new breach reporting regime released

by Annie Kane • 8 Sep 2021

The steps brokers will need to take to comply with the incoming breach reporting regime have been outlined by ASIC in... READ MORE

RBA declares September cash rate

by Sarah Simpkins • 7 Sep 2021

The Reserve Bank has revealed its cash decision for September, amid ongoing lockdowns across the country.

AUSTRAC flags broker fraud among banking risks

by Sarah Simpkins • 7 Sep 2021

The regulator has warned the banks they have high exposure to criminal activity, while reporting cases of... READ MORE

Brokers urged to prepare for new laws

by Malavika Santhebennur • 3 Sep 2021

Brokers have been advised to understand what actions they need to take when the “next wave” of regulatory changes... READ MORE

Breach reporting for credit licensees: Are you ready to dob yourself...

by Annie Kane • 3 Sep 2021

October 2021 sees the commencement of many new regulatory reforms for Australian credit licence holders. One of the... READ MORE

Mutuals escaping ‘vicious cycle’ in merger mania: S&P

by Sarah Simpkins • 2 Sep 2021

The rise in consolidation among mutual lenders has reflected changing attitudes from management amid escalated margin... READ MORE

Aggregators should be helping guide broker laws: Sam White

by Annie Kane • 27 Aug 2021

As well as helping brokers with compliance, aggregators should be helping “shape” legislators’ views on how new... READ MORE

SMEs need early super, says senator

by Sarah Simpkins • 26 Aug 2021

A senator has argued for reopening the superannuation vault for early withdrawals, to help small businesses suffering... READ MORE

Financial sector continues to be high cyber target

by • 26 Aug 2021

The financial services sector had the second-highest number of data breaches between January-July and is increasingly... READ MORE

Government unveils draft reforms for unfair contract terms

by Sarah Simpkins • 24 Aug 2021

The government has released a draft bill aiming to combat unfair contract terms, with proposed changes including the... READ MORE

Parliamentary committee to probe housing affordability

by Sarah Simpkins • 17 Aug 2021

A parliamentary committee is calling for submissions for a new inquiry into housing affordability and supply in... READ MORE

ASIC to be ‘reasonable’ in enforcing new laws

by Annie Kane • 13 Aug 2021

The regulator will take a “reasonable approach” when enforcing the swathe of incoming financial services laws,... READ MORE

MFAA welcomes DDO changes

by Annie Kane • 13 Aug 2021

The broker association has welcomed Treasury’s move to amend mortgage broker obligations under the design and... READ MORE

Treasury to amend DDO requirements

by Annie Kane • 12 Aug 2021

The government will change broker obligations under the design and distribution obligations regime, following... READ MORE

ASIC reveals frozen credit licences, overturned conviction

by Sarah Simpkins • 11 Aug 2021

ASIC has made 24 cancellations and suspensions of Australian credit licences during the first half of the year, as an... READ MORE

Calls for aggregator inclusion in new CDR

by Malavika Santhebennur • 10 Aug 2021

The Loan Market Group has called for more clarity around the role of aggregators in the new CDR proposal, and urged... READ MORE

Association working to ‘fix’ reference checking laws

by Annie Kane • 5 Aug 2021

The MFAA has been working with Treasury to “fix” reference checking legislation and make other incoming regimes... READ MORE

House price growth at 17-year high: CoreLogic

by Malavika Santhebennur • 3 Aug 2021

Home values grew by 16.1 per cent in the past year, the fastest pace of growth since 2004, but growth has slowed,... READ MORE

Governments extend COVID support to NSW, Vic

by Sarah Simpkins • 29 Jul 2021

The state and federal governments have offered support packages to businesses across NSW and Victoria, as Sydney has... READ MORE

Banks accused of bias against BNPL in lending process

by Sarah Simpkins • 28 Jul 2021

An executive from buy now, pay later provider Zip has echoed reports from brokers around how banks treat home loan... READ MORE

Millennials call for more housing regulation

by Malavika Santhebennur • 28 Jul 2021

A survey has revealed that almost three-quarters of Millennials said they believe the housing market needs more... READ MORE

ASIC levy reflects ramped up enforcement: FBAA

by Sarah Simpkins • 27 Jul 2021

ASIC’s raised industry funding levies reflect higher enforcement against brokers and could add to other increasing... READ MORE

Westpac fundies cop $3m penalty over fees for no service