An ASIC report detailing how financial advice was paid for but not given by Australia’s big four banks exposes a culture problem that the government needs to deal with.
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Business Briefing: rate tracker mortgages
The Conversation16.3 MB (download)
Rate tracker mortgages could provide some certainty for customers and increase trust in the banking sector.
Just when we all thought that the Australian Securities and Investments Commission (ASIC) had already won the race to be most ineffective regulator of the year, up pops the Australian Prudential Regulation…
The large banks and AMP will be required to fund the establishment of a new independent body to oversee the professional standing of the much-criticised financial services industry.
Data on the outcomes of life insurance claims will not only help individual customers but also financial advisers and super funds acting on behalf of consumers.
The Financial Services Council code of conduct for life insurance is the industry’s last chance to reform before the government steps in.
People who engage in rent-to-buy schemes might not be protected under law and are often left in unaffordable situations.
ASIC has been too slow to prosecute those accused of rigging the bank bill swap rate so it doesn’t matter if the government makes the penalties harsher for those found guilty.
As the chief executives of Australia’s big four banks come before a House of Representatives economics committee, we ask a panel of experts what questions the banks should be answering.
One simple measure could go a long way to cracking down on illegal activity that is now widespread in Australia.
Keeping public information about companies locked up behind paywalls and maintained by private interests is not in the public interest.
The life insurance industry has been put on notice about its commissions.
The appointment of administrators too often leads to the demise of a company anyway. Salvaging rather than saving might be best.
Managers of well-known Australian companies are misleading investors by taking years to recognise asset impairments and not disclosing that information in financial reporting.
Research shows that having experienced shareholders that use swing trading on boards is better for business, than the independent directors required by the ASX.
How would each of the major parties better regulate the finance and business sectors?
Business Briefing: ASIC tries to prevent fintech startups from becoming scammers
ASIC is teaming up with its Singaporean counterpart to encourage more fintech startups and dip its toe into the fast moving waters of the digital economy.
It doesn’t matter how much Oliver Curtis and John Hartman stood to gain from insider trading, what matters is what we all lose from market tampering.
The ASIC inquiry into how mortgage brokers are paid won’t do much to change an already competitive system.
With all the weight of evidence stacked against the banks in the case of BBSW benchmark, surely now is the time for the government to enforce regulation.
Top contributors
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Senior Lecturer, Faculty of Law, University of Wollongong
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Professorial Fellow, University of Canberra
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Associate Professor - Department of Accounting and Corporate Governance, Macquarie University
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Professor of Law, The University of Western Australia
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Professor of Law (consumer protections and credit law), The University of Melbourne
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Senior lecturer, Queensland University of Technology
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Adjunct Professor of Law, University of New England
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MinterEllison Professor of Risk and Regulation, UNSW Law; Director, Centre for Law Markets and Regulation, UNSW Law, UNSW
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Associate Professor, Corporate Law, University of Sydney Business School, University of Sydney
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Professor of Public Policy & Law, Centre for Governance & Public Policy, Griffith University
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Lecturer in Corporations Law and Regulation of Corporate Misconduct, The University of Queensland
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Emeritus Professor, Melbourne Law School, The University of Melbourne
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Lecturer in Accounting, The University of Queensland