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The Latest Breaking News from ASIC

Head of corporate regulator to step back from role

ASIC chair Joe Longo has announced he won't look to be reappointed in the position when his term runs out in May.

AAP

Bank to pay record £118m fine after failing to refund dead customers

Its corporate misconduct affected almost 65,000 customers

The Independent UK

ANZ has been hit with a record $240 million fine. These lessons should have been learned years ago

ANZ Bank has agreed to pay a record fine of A$240 million after admitting to various forms of misconduct that occurred “over many years”.

The Conversation

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A 'bank in crisis': ANZ cops record fine for misconduct

From charging dead customers to overstating trades, a big four bank has been slugged with a record penalty for widespread misconduct.

AAP

‘Betrayed the trust of Australians’: ANZ bank pays record $240m fine for widespread misconduct

Company admits allegations in four investigations brought by financial regulator Asic

The Guardian - AU

'Always under persecution': Palmer claims court win

Clive Palmer has claimed a court win in a long-running case after a magistrate ruled the billionaire businessman's human rights may have been impeded.

AAP

Watchdog sets sights on protecting retirees' pensions

Superannuation firms exploiting members in retirement and allowing them to invest in high-risk funds will be the target of Australia's corporate watchdog.

AAP

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Responsibility, not legacy driving Chalmers to reform

Jim Chalmers' economic roundtable will likely present some low-hanging fruit around regulation but hefty tax reform will be more challenging for him to grasp.

AAP

ASX faces listing competitor after damaging TPG blunder

Financial regulator ASIC is considering approving an ASX rival to launch a competitor listing market, which the treasurer hopes will boost investment.

AAP

Embattled ASX set to face beefed-up competition, in bid to boost investment

The Australian Securities and Investments Commission is set to boost the competition faced by the much-criticised ASX in an effort to clear roadblocks for investors and attract more foreign capital to Australia.

The Conversation

Banks forced to take action on high-fee accounts

Banks must ask themselves some 'difficult questions' following a review by ASIC, which has resulted in refunds totalling millions for low-income customers.

AAP

Australians lost $1bn through collapsed investment funds. What happened and how can workers keep their super safe?

More than 12,000 people were exposed to three major failed schemes. Here’s how to lower the risk of facing a similar situation

The Guardian - AU

Macquarie’s famed pay packages under attack from disgruntled shareholders at AGM

Investors used the group’s annual general meeting in Sydney on Thursday to vote against remuneration plans

The Guardian - AU

Banks told to make AI work for people, not against them

Artificial intelligence should be used to improve the lives of customers instead of just making more money out of them, the corporate regulator tells bankers.

AAP

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The Conversation

6 simple questions to tell if a ‘finfluencer’ is more flash than cash

Images of flashy sports cars. Lavish lifestyle shots. These are just some of the red flags consumers should watch out for when they turn to social media for financial advice.

AAP

'Exploited' investors lose fortune, $300m fines mulled

A brokerage that pushed risky investments onto vulnerable customers and profited from millions of dollars in losses has argued for an eight-figure fine in court

The Guardian - AU

Wong signals plans to get Australians out of Iran and Israel – as it happened

This blog is now closed

AAP

Share market operator probed after 'serious' failures

The corporate regulator's concerns over critical market infrastructure has prompted a probe into Australia's stock exchange operator.

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AAP

ASIC puts super on notice over complaint 'blind spots'

How superannuation funds track and address customer complaints is the next focus of financial watchdog ASIC's bid to whip the scandal-plagued sector into shape.

The Conversation

The ASX is shrinking – a plan to get more companies to float does not go far enough

Whenever a high-profile company lists on the Australian stock market it attracts much excitement. Employees and founders enjoy some financial gains and investors get a chance to invest in a potentially exciting stock.

Pedestrian.tv

Huge Changes Are Coming To Buy Now, Pay Later Services: What You Need To Know

Under new rules, Buy Now, Pay Later services will be subject to the same regulations as credit cards in Australia.

AAP

Australian shares hit record close as bank stocks surge

Banks and energy stocks have helped lift the local bourse to record highs, but continued growth will hinge on the outcome of US-China trade talks.

AAP

Path to going public on markets sped up for companies

A decline in the number of new companies listing on the ASX has forced the market watchdog to roll out changes to streamline the process of going public.

AAP

RAMS franchisees hit back over Westpac 'blame shifting'

Franchisees in a Westpac subsidiary accused of misconduct have challenged the findings and the bank's resulting termination of agreements.

The Guardian - AU

Coronial investigation into death of Kumanjayi White on hold during criminal investigation – as it happened

This blog is now closed

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