Budget 2018: Funding reduced at corporate regulator ASIC amid banking royal commission revelations

Budget 2018: Funding reduced at corporate regulator ASIC amid banking royal commission revelations

Posted May 10, 2018 16:48:35 Funding is being cut at Australia’s corporate regulator and staffing levels will be reduced, according to figures in Tuesday’s federal budget. Key points: ASIC will lose $28 million in Government funding over next three years Average staffing levels will drop by 2 per cent — …

Murray-Darling royal commission says it won’t investigate water thefts

Murray-Darling royal commission says it won’t investigate water thefts

Posted May 09, 2018 07:26:21 South Australia’s royal commission into the Murray-Darling river system has confirmed it will not investigate water theft cases or New South Wales bureaucrats already under investigation or prosecution by other bodies such as the New South Wales ICAC. The former Weatherill government launched the royal …

Three more AMP directors leave in wake of bank royal commission scandal

Three more AMP directors leave in wake of bank royal commission scandal

Updated May 08, 2018 11:43:37 Photo: Craig Meller and Catherine Brenner had already stood aside over the fees-for-no-service scandal. (AAP: David Moir) The blood-letting from AMP’s disastrous appearances at the bank and financial services royal commission has continued with three more directors leaving the board. Key points: Three more directors …

Advertising agency founder Andrew Killey appointed to SA Tourism Commission board

Advertising agency founder Andrew Killey appointed to SA Tourism Commission board

Updated May 04, 2018 16:24:04 South Australia’s Premier has appointed a Liberal-linked adman to the board of the SA Tourism Commission (SATC), after the company he founded missed out on a lucrative tourism advertising contract to an interstate firm. Steven Marshall has ordered the appointment of Andrew Killey, the co-founder …

Banking royal commission: Does this prove banks are not an ethical investment?

Banking royal commission: Does this prove banks are not an ethical investment?

Updated May 04, 2018 19:32:09 Photo: Craig Meller and Catherine Brenner departed AMP following the royal commission revelations. (AAP: David Moir) The banking royal commission and this week’s APRA report into the Commonwealth are a litany of banks, and AMP, behaving badly. And for investors concerned about more than just …

AMP furiously rejects royal commission findings, argues matters should be dealt with by ASIC

AMP furiously rejects royal commission findings, argues matters should be dealt with by ASIC

Updated May 04, 2018 11:56:25 Big wealth adviser AMP has hit back at the banking royal commission, strenuously denying it has committed any criminal offence and arguing its failings should be dealt with by ASIC, not the commission. AMP’s rebuttal of the commission’s actions and line of inquiry by counsel …

Sydney and Melbourne property to be most affected by banking royal commission: CoreLogic

Sydney and Melbourne property to be most affected by banking royal commission: CoreLogic

Updated May 01, 2018 10:28:10 The fallout from the banking royal commission and APRA’s stricter lending policies will see Sydney and Melbourne markets hit hardest, according to property analytics firm CoreLogic. “Credit policies aren’t likely to be relaxed,” said CoreLogic’s head of research Tim Lawless. “Borrowers who could have borrowed …

Catherine Brenner under pressure as AMP board prepares to meet in wake of royal commission revelations

Catherine Brenner under pressure as AMP board prepares to meet in wake of royal commission revelations

Posted April 29, 2018 10:58:51 Photo: Catherine Brenner is under pressure to follow Craig Meller’s lead and resign. (AAP: David Moir) Related Story: The banking royal commission is damaging reputations, but is it enough? Related Story: ‘Position is untenable’: Shareholders Association calls for AMP chairman to resign The board of …

Banking royal commission: Lax lending by banks could see our debt problem come crashing down

Banking royal commission: Lax lending by banks could see our debt problem come crashing down

By Therese Wilson and Gill North Updated April 27, 2018 10:08:41 Photo: The prospective harm that could result to households from elevated levels of indebtedness, and the adverse flow-on effects to the Australian economy, can’t be ignored. (ABC News: Margaret Burin) Related Story: Financial advice firm impersonated client, royal commission …

Banking royal commission quiz: what incredibly dubious practices were revealed this week? | Australia news

Banking royal commission quiz: what incredibly dubious practices were revealed this week? | Australia news

You got… You seem to know very little. Have you considered a career as a financial adviser? Not bad. You must have been following the hearings this week, while stuffing your savings into a mattress. Congratulations, you’re the next head of the Australian Securities and Investments Commission! Source link