Emerging role for APRA as a conduct regulator?

Professionalism in financial services was the topic addressed last Thursday 11 October by a range of speakers presenting at the 2018 FINSIA Summit.  Throughout this year, key regulators have spoken openly about the importance of professionalism in the banking sector and the role it plays in rebuilding community trust. The public hearings of the Royal Commission into Misconduct in Banking, Superannuation and Financial Services has also highlighted the significant work that lies ahead in order to restore trust and confidence in the sector. Read more

Where are we up to again? Insurance regulation over the horizon

By Philip Hopley The Australian regulatory financial services sector has certainly been giving props to Greek philosophy of late with its channelling of Heraclitus’ statement that “there is nothing permanent except change.” Now that the dedicated insurance hearings at the Royal Commission have finished, here is a snapshot of the current legislative and regulatory plans for … Read more

Consumer Data Right – The Rules Framework is out

Written by Amy Ciolek and Kiara Salvia On 12 September 2018, the Australian Competition and Consumer Commission (ACCC) released for public consultation the Consumer Data Right (CDR) Rules Framework (Rules Framework) following the release of the exposure draft Treasury Laws Amendment (Consumer Data Right) Bill 2018 (the Bill) which proposes amendments to the Competition and Consumer Act … Read more

Consumers to Receive Data Rights

By Lisa Whiting Consumers are set to receive certain rights in relation to personal data held about them. These rights are provided for under exposure draft legislation released by Treasury. Submissions on the draft are due by 7 September 2018. Read more

The new (digital) banks on the block

By Nicola Greenberg Australians are familiar with the concept of “non-banks”, and have even seen an example of a “beta bank” (U-Bank).  Other forms of “challenger” banks, such as neobanks and new banks have been absent from the Australian landscape until more recently. Read more