Search Results for: Australia
ASIC action sees BMW Australia Finance to repay $77 million to customers
December 6th, 2016
ASIC has accepted an Enforceable Undertaking (EU) from car financier, BMW Australia Finance Limited (BMW Finance), which will see BMW Finance implement Australia’s largest consumer credit remediation program to compensate customers for its responsible lending failures. BMW Finance provides ...
Apple Wins Battle With Australia Banks Over Mobile Payments
November 29th, 2016
Apple Inc. won the first round of a battle with Australia’s largest banks, which have been trying to force the tech company to offer them access to its Apple Pay technology that allows smartphones and tablets to communicate with ...
Australian Financial Services licence suspended for failing to lodge financial statements
November 29th, 2016
ASIC has suspended the Australian Financial Services (AFS) licence of Sydney-based Group Underwriters & Managers Pty Ltd (GUM) for three months for failing to lodge financial statements, auditor reports and auditor opinions for a period of three years. This ...
ASIC launches new digital toolkit to help Australians navigate financial advice
November 28th, 2016
A new online toolkit developed by ASIC’s MoneySmart will enable Australians to better understand and navigate the financial advice process. ASIC’s MoneySmart Financial Advice Toolkit is a free educational tool that breaks down the complexity around the financial advice ...
Findex Group and Financial Index Australia fined by ASIC
October 10th, 2016
Findex Group Limited and Financial Index Australia Pty Ltd (FIA) have each paid a $10,800 penalty following the issuing by ASIC of infringement notices for potentially misleading claims on the Findex website (www.findex.com.au). The Findex group of companies (which ...
Dollar Climbs on Fed Bets as Australian Bonds Sink; Oil Retreats
October 4th, 2016
Japanese stocks advance as yen weakens for a sixth day Regional sovereign debt slides amid U.S. rate-hike speculation The dollar strengthened for a sixth day versus the yen and sovereign bonds fell as American manufacturing data and hawkish comments ...
ASIC cancels a suspended Australian Financial Services licence
September 16th, 2016
ASIC has cancelled the Australian Financial Services (AFS) licence of Melbourne-based company Allegianz Pty Ltd (Allegianz) for failing to lodge financial statements and auditor reports. Allegianz’s AFS licence was suspended by ASIC for six months in March 2016 for ...
Reserve Bank of Australia decided to leave the cash rate unchanged at 1.50 per cent
September 6th, 2016
At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy is continuing to grow, at a lower than average pace. Several advanced economies have recorded improved conditions over the ...
Australia to regulate bitcoin under counter-terrorism finance laws
August 9th, 2016
Jakarta: Australia is moving to become one of the first countries to regulate e-currencies such as bitcoin under its anti-money laundering and counter-terrorism financing laws. Bitcoin – the most prominent digital currency to emerge globally – is backed by a ...
Australian Bank Invests $50 Million into Fintech
August 9th, 2016
As it continues the hunt for the most promising Australian fintech startups, Sydney-based venture capital firm Reinventure has closed a fund with the backing of Westpac. So what is in it for the bank? For the bank, the fund ...
