Archived News for Finance Sector Professionals - August, 2012
Abacus, the industry body for the Australian mutual financial services sector, has released figures which it claims show that the customer owned banking sector – credit unions, building societies and mutual banks - are in an even stronger position than the latest APRA data indicates.
The industry body has done its own performance modelling which includes data from mutual banks which weren't captured by APRA’s report.
Six institutions that became mutual banks were not included in the 2012 APRA data, but were previously part of the 2011 data, which led to results that prevented accurate year-on-year comparisons.
The Institute of Public Accounts (IPA) has called on the Government to reconsider proposed changes to superannuation in relation to fund notification requirements.
The award of one of three national scholarships to Flinders Business School PhD student Mrs Yen Bui will fund a study into the efficiency and performance of Australia’s superannuation funds.
The Reserve Bank has published a consultation paper on a proposal to determine new Financial Stability Standards (FSSs) for central counterparties and securities settlement facilities.
The Federal Government has called on stakeholders to contribute to planned legislation that will see the introduction of loss carry-back into the business tax system.
The Federal Government has passed its Tax Laws Amendment (Investment Manager Regime) Bill 2012 through parliament, which aims to reduce uncertainty around the use of Australian fund managers by international investors.
The Federal Government has announced its support for an evidence based and expert led process for selecting and assessing default superannuation funds in modern awards.
The NAB bank has experiencing a resurgent customer satisfaction rating amongst its business customers, according to the latest results from DBM Consultants’ monthly Business Financial Services Monitor (BFSM).
A report released by forensic accountant specialists Warfield & Associates has found that nearly $400 million was lost to industrial fraud, with 89 cases being documented involving 93 employees.
The Federal Government has passed its Consumer Credit Legislation Amendment (Enhancements) Bill 2012 through Parliament, clamping down on what it calls loan sharks by capping the limits on what lenders can charge.
Financial comparison specialist RateCity has published a new study that shows that five years after the worst of the global financial crisis, its still increasingly tough for borrowers, and only better for savers who make it a point to shop around for the best money deals.
A report released by the Financial Services Institute of Australasia (Finsia) shows that developing close professional relationships is key to the the fair treatment of financial services customers.
The Federal Government has confirmed the appointment of Jillian Broadbent as the chair of the Clean Energy Finance Corporation (CEFC) Board for a five-year term. Also announced were the appointments of Michael Carapiet, Ian Moor, Anna Karbek and Andrew Stock as the inaugural members of the Board.