Archive for Compliance & risk

  • Reining in remitters Reining in remitters

    Regulatory reform in Australia's remittance sector is back on track in an effort to crack down on money laundering BY ELTON CANE Now that the Labor Government under Julia Gillard has secured the required level of support in parliament to form a minority government, the process of regulatory ...

  • Exit stage left Exit stage left

    As ASIC consults with the industry on how it should enforce tougher rules targeting mortgage exit fees under new unfair contract laws, how worried are the lenders? BY ELTON CANE The Australian Securities and Investments Commission released a paper on June 27 consulting the industry on how it ...

  • Regulation promises safer lending Regulation promises safer lending

    Now that ASIC has issued its guidelines detailing obligations for responsible lending, credit institutions can start their final phases of compliance BY ELTON CANE In July this year, the first stages of the newly revised Australian Consumer Law will come into effect. Based on the existing co...