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NAB says ‘significant’ penalties loom over money laundering breaches
Financial Services November 15, 2019 3:58 pm By Miklos Bolza

The National Australia Bank faces the prospect of “significant monetary penalties” after self-reporting a potentially large number of money laundering and counter terrorism financing breaches […]

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ASIC lashes out at criticism over new responsible lending guidelines
Financial Services November 14, 2019 11:25 pm By Christine Caulfield

The corporate regulator has shot back at “exaggerated and inaccurate criticisms” that its updated responsible lending guidelines were to blame for lack of access to credit.

‘Not everyone will be happy’: APRA chair says pay overhaul plan has caused executive ‘angst’
Financial Services November 13, 2019 4:26 pm By Hannah Gee

Australia’s executives have responded to APRA’s proposed overhaul to executive remuneration with “a fair amount of angst”, according to Chair Wayne Byres, who said the […]

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Latest suit claims Macquarie owes $4.8M in underpayments
Employment November 12, 2019 4:02 pm By Cat Fredenburgh

Macquarie Bank has been hit with another lawsuit by former financial advisers who claim the bank underpaid them to the tune of $4.8 million by […]

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Vocation class action lumbers on with pared claims
Class Actions November 11, 2019 4:02 pm By Cat Fredenburgh

Certain claims in a shareholder class action against insolvent training company Vocation and auditor PricewaterhouseCoopers have been dropped, as the long-running case awaits a new […]

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Banks can grill ACCC investigators, JPMorgan in ANZ criminal cartel case
Competition & Consumer Protection November 8, 2019 3:35 pm By Miklos Bolza

The banks and executives at the centre of a landmark criminal cartel case can question four ACCC investigators and witnesses from JP Morgan at an […]

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ASIC takes MobiSuper to court for misleading advertising
Financial Services November 6, 2019 9:44 pm By Christine Caulfield

Superannuation fund promoter MobiSuper faces legal action by the Australian Securities and Investments Commission, accused of misleading customers in marketing calls. ASIC filed Federal Court […]

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ASIC wins admissions from NAB in $100M fees for no service case
ASIC November 4, 2019 1:30 pm By Cat Fredenburgh

A hearing scheduled for next year in the Australian Securities and Investments Commission’s case against two NAB wealth management units will focus solely on how […]

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ASIC sues former ANZ financial planner, advice firm in latest post-Hayne case
Financial Services October 31, 2019 10:09 pm By Miklos Bolza

The Australian Securities and Investments Commission has brought legal action against a financial planner and advice firm formerly owned by ANZ Bank after they were […]

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Westpac lending class action gets makeover after ASIC loss
Financial Services October 30, 2019 4:07 pm By Christine Caulfield

A class action accusing Westpac of issuing unsuitable home loans is pushing forward with overhauled pleadings after the corporate watchdog lost a related regulatory action, […]

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