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The Australian Prudential Regulation Authority has imposed a $50 million capital penalty and other licence conditions on ING Australia, after the bank breached minimum liquidity requirements over several years.
The prudential regulator has imposed licence conditions on Bendigo and Adelaide Bank and will keep a $50 million capital add-on requirement, following a Deloitte analysis that found "material deficiencies" in its non-financial risk management.
Bendigo and Adelaide Bank has been hit with enforcement action by the prudential regulator for cybersecurity failures by a former business, and has agreed to an $8 million penalty.
Superannuation trustee Diversa is facing an investigating by the Australian Prudential Regulation Authority into its executive remuneration practices.
One of the country's leading class action lawyers has left Jones Day for Thomson Geer, the third litigation partner to depart the US-based firm in recent months.
Fresh off being sued by ASIC for investing $300 million into Falcon Capital’s failed First Guardian Master Fund, super trustee Diversa has been hit with additional licence conditions by the prudential regulator.
AUSTRAC has launched an investigation into Bendigo and Adelaide Bank's compliance with anti-money laundering laws, as APRA directs the bank to hold a capital add-on of $50 million.
APRA has increased ANZ's capital add-on requirement by $250 million to account for operational risks, after a report highlighted “persistent and prevalent” problems at the bank.
The trustees of super fund HESTA have agreed to make payments to two groups of members impacted by valuation decisions made at the start of the COVID-19 pandemic.
The prudential regulator has filed court action against First Super co-chair and CFMEU manufacturing division boss Michael O'Connor, alleging he breached his director's duties under superannuation laws when he hired a union official to work for the fund.