At first glance the recent Productivity Commission Draft Report on How to Assess the Competitiveness and Efficiency of the Superannuation System August 2016 could be dismissed as nothing more than a procedural step along the road to the ultimate goal as recommended by the FSI of developing an ...

The ASIC Enforcement Review Taskforce members and terms of reference have been announced The terms of reference are very broad and come as no surprise with an emphasis on evaluating the adequacy of ASICs enforcement toolkit We analyse the key themes that are likely to emerge ...

Australias lack of enforcement of foreign bribery legislation has attracted increasing criticism in recent years but the Federal Government is expected to soon table legislation proposing wide-ranging reforms We look at two key proposed changes for Australian companies ...

A director of a bank life company or general insurer who read APRAs recent information paper on risk culture could be excused for indulging in a wry smile Since mid-2015 he or she has been subject to legislative obligations concerning risk culture However the information paper suggests that APRA is ...

The growth of financial services technology or Fintech as it is now called has exploded in recent years yet many of its creators dont realise that their innovations are patentable ...

If you have been following the debate about bank capital in recent months you could be forgiven for thinking there is only one issue how much capital should banks have to hold on account of their residential property lending activities However the Financial System Inquirys recommendations on bank ...

The Senates disallowance of the Corporations Amendment Streamlining Future of Financial Advice Regulation 2014 was messy However the same could be said of the process by which FoFA was originally enacted ...

Allens has written over the course of this year, the Royal Commission will bring and in fact already has brought monumental changes both in how banks are regulated and to the actual laws that apply ...

The Australian Financial Complaints Authority AFCA the new one-stop-shop for resolving financial complaints has had a very busy first six months of operation ...

Although more than 6500 second round submissions have been made to the Financial System Inquiry submissions made by ASIC and APRA will be read with greater interest than most The recommendations in these submissions are likely to be given greater weight by the FSI panel members and could find their ...