Kelly O'Dwyer said legislation would be introduced into parliament this year to mandate professional standards for advisers.
The large banks and AMP will be required to fund the establishment of a new independent body to oversee the professional standing of the much-criticised financial services industry.
New ASIC regulations aim to improve transparency in the life insurance industry.
Data on the outcomes of life insurance claims will not only help individual customers but also financial advisers and super funds acting on behalf of consumers.
Many Australians will not benefit from the Financial Services Council’s new life insurance code, Gail Pearson says.
The Financial Services Council code of conduct for life insurance is the industry's last chance to reform before the government steps in.
Some home buyers can’t afford to go through the regular channels so the rent-to-buy deals appeal to them.
People who engage in rent-to-buy schemes might not be protected under law and are often left in unaffordable situations.
ASIC chairman Greg Medcraft could learn a thing or two from his US counterparts.
ASIC has been too slow to prosecute those accused of rigging the bank bill swap rate so it doesn't matter if the government makes the penalties harsher for those found guilty.
NAB CEO Andrew Thorburn defended the culture of the bank he works for during the House of Representatives Standing Committee on Economics annual public hearing.
As the chief executives of Australia's big four banks come before a House of Representatives economics committee, we ask a panel of experts what questions the banks should be answering.
Identifying repeat offenders doesn’t have to be complicated.
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One simple measure could go a long way to cracking down on illegal activity that is now widespread in Australia.
ASIC charges businesses and individuals around A$50 million each year for company searches.
Keeping public information about companies locked up behind paywalls and maintained by private interests is not in the public interest.
Changes to life insurance commissions may reduce the incentive for advisers to churn customers through policies.
The life insurance industry has been put on notice about its commissions.
Successful rescue of a company is the ideal rather than the reality.
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The appointment of administrators too often leads to the demise of a company anyway. Salvaging rather than saving might be best.
Investors need to know if there is impairment of assets, but research shows firms don’t always disclose all the information they should about this.
Managers of well-known Australian companies are misleading investors by taking years to recognise asset impairments and not disclosing that information in financial reporting.
Research shows independent directors required by the ASX are not acting in shareholders best interest.
Research shows that having experienced shareholders that use swing trading on boards is better for business, than the independent directors required by the ASX.
Various scandals have forced the major parties in this election campaign to tackle policy on business and finance regulation.
How would each of the major parties better regulate the finance and business sectors?
ASIC hopes it will lure fintech startups from Australia and Singapore to its innovation program.
Business Briefing: ASIC tries to prevent fintech startups from becoming scammers.
ASIC is teaming up with its Singaporean counterpart to encourage more fintech startups and dip its toe into the fast moving waters of the digital economy.
Stockbroker Oliver Curtis leaves at lunchtime with his wife Roxy Jacenko at the Supreme Court of New South Wales in Sydney.
It doesn't matter how much Oliver Curtis and John Hartman stood to gain from insider trading, what matters is what we all lose from market tampering.
If consumers don’t like the way their mortgage brokers operates, they can shop around.
The ASIC inquiry into how mortgage brokers are paid won't do much to change an already competitive system.
Westpac Chief Executive Officer Brian Hartzer gave excuses for traders behaviour in regards to the BBSW benchmark.
With all the weight of evidence stacked against the banks in the case of BBSW benchmark, surely now is the time for the government to enforce regulation.
It may be the effect of the election but the regulation of banking in Australia appears to be descending into farce. Just last week, maybe in anticipation of adverse events to come, the Australian Financial…
Senator Sam Dastyari, who has been involved in scrutinising the banks, and former Commonwealth Bank employee turned whistleblower Jeff Morris.
Whistleblowers need better incentives, compensation and protection under Australian law, especially those in the private and not-for-profit sectors.
On Thursday, Bill Shorten was in Western Sydney promising a limited night ‘no-fly zone’ when the planned Badgerys Creek airport comes into operation.
When asked this week whether in retrospect she regretted the government trying to undo Labor's consumer protections, Assistant Treasurer Kelly O'Dwyer denied it had happened.