Emerging role for APRA as a conduct regulator?

By Kerensa Sneyd 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… 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… 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… Read more

Consumers to Receive Data Rights

Written 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… Read more

The new (digital) banks on the block

Written 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… Read more

The evolving role of the financial services regulator

Written by Amy Ciolek and Nicola Greenberg As community expectations and the nature of crime changes, so too does the role of the regulator. The ABC news reports today that "for the first time, the Australian Securities and Investments Commission… Read more

When utmost good faith is not good enough

Written by Philip Hopley There is just over a month left for stakeholders to provide views on a proposed model that will implement the government's policy to apply unfair contract terms legislation to life and general insurance contracts for consumers… Read more

Contrasting Regulatory Approaches to FinTech

Written by Amy Ciolek, Nicola Greenberg and Kishaya Delaney Various crypto news sites are publishing that the UK’s Financial Conduct Authority (FCA) has accepted 11 blockchain-based financial service providers into its recent (4th) SandBox cohort.  This includes startups testing cryptoasset… Read more

Cyborg Advice

Written by the one and only Michael Vrisakis Yesterday’s Financial Review contained an article by James Eyers (page 22) which touched on what we will call “Cyborg Advice”; that is hybrid advice involving man and machine. The article notes that… Read more

Current APRA Superannuation Initiatives

This page is an extract from the presentation addressing current APRA superannuation initiatives, and in particular: APRA Related Party Arrangements Thematic Review APRA Discussion Paper – Post-implementation review of APRA’s superannuation prudential framework We hope that this summary and overview… Read more

Community Expectations – Code or Codification?

By Michael Vrisakis The Royal Commission has become a channeling medium for community expectations as a standard of conduct.  One of the issues this raises is whether we have to wait for a Royal Commission in order to heed the… Read more

ASIC updates its ICO guidance

What this means for you Initial Coin Offering (ICO) issuers have been placed on notice that from 19 April 2018, the Australian Competition and Consumer Commission (ACCC) has delegated powers to the Australian Securities and Investments Commission (ASIC) to enable… Read more