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Mortgage brokers looking for safe harbour provisions in ASIC’s regulatory guide to the mortgage broker best interests duty will not find them. read more

ASIC has commenced proceedings in the Federal Court against Commonwealth Bank and its subsidiary Colonial First State Investments over alleged conflicted remuneration. The banking royal commission fin.. read more

Payment terminal operator Smartpay has rejected a revised offer from US payments company Verifone for its New Zealand business, saying the terms of the latest offer are not acceptable. read more

An EFT can be a lousy way to pay a holding deposit when buying property, or so the Supreme Court of New South Wales has ruled. read more

The COVID-19 crisis could a shift by businesses and households to more risk averse positions, resulting in weak demand for credit over the long term, Reserve Bank governor Philip Lowe warns. read more

NAB boss Ross McEwan says the government will continue to provide support for “some industries that have been badly damaged”, rather than expose the whole of Australian business to the “September clif.. read more

New business lending continues to grow, despite the large number of business loan deferrals and the introduction of tighter lending standards by many lenders. read more

ASIC has released a regulatory guide setting out how it will exercise its new product intervention power, and making it clear how wide-ranging it is. read more

The Australian Banking Association has joined a number of other business groups in a campaign to encourage the government to support the development of a “new digital economy”. read more

The ACCC will not oppose AFG’s proposed acquisition of rival mortgage aggregator Connective Group, giving the green light to a A$120 million deal announced last August. read more