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ASIC has collected around $250 million across the largest five firms in the industry by way of compensation for customers, "with likely more to come", ASIC told a parliamentary hearing on Friday. read more

Philip Lowe, governor of the Reserve Bank of Australia, has an additional job as chair of the Committee on the Global Financial System, the Bank for International Settlements announced last night. read more

Capital shortfalls among the larger, internationally active banks are estimated at €27.9 billion, the Bank for International Settlements said in their annual report, published overnight. read more

A sturdy rebuttal on Friday by Credit Corp of "an anonymous report" on the company provided only modest defence, in a trading context, as the firm's shares fell nearly 20 per cent, before rebounding t.. read more

Bank creditors of the same status may not be treated equally in a crisis, should the latest thinking on the global rules around bail-ins apply to any domestic episode of banking stress. read more

David Locke will be the chief ombudsman and chief executive officer of the Australian Financial Complaints Authority, Helen Coonan, chair of the board of AFCA announced on Friday. read more

A tilt at crowd funding by mortgage marketplace HashChing has pulled up short, with the firm likely to refund the A$316,000 pledged by a handful of retail investors. read more

Margins loans and charge cards will be excluded from the Mandatory Comprehensive Credit Reporting regime, draft regulations published yesterday show. read more

ANZ, Citi and Deutsche will become the first financial services companies to face criminal charges in Australia over alleged cartel conduct - in this case dating from 2015 - assuming the DPP and ACCC.. read more

A suspended sentence of three months is the punishment for a former sales director of Securency International convicted on a charge of false accounting. read more