Tag: APRA

APRA has ordered Macquarie, Rabobank and HSBC to tighten funding arrangements to ensure funds cannot be withdrawn by parent companies during financial stress. Following a review of funding agreements across the authorised deposit-taking (ADI) industry, APRA notified the three banks that the reporting of their intra-group funding as stable has been in breach of the […]

The Australian Government’s proposal to make it easier for digital-first challenger banks to compete against industry incumbents is could be improved, according to the peak body for fintech startups.   FinTech Australia has lodged a submission with the Australian Prudential Regulation Authority (APRA) in response to its discussion paper, entitled “A phased approach to authorising new entrants to […]

Government moves to reduce regulatory barriers to challenger banks entering the market should improve access to finance for small business, according to Australian Small Business and Family Enterprise Ombudsman (ASBFEO).  The Ombudsman, Kate Carnell, welcomed news that the Treasury is consulting on proposed changes to the Banking Act, which would remove restrictions on the use […]

Concerns around governance, culture and accountability within the Commonwealth Bank (CBA) have prompted the Australian Prudential Regulation Authority (APRA) to announce an independent inquiry into the lender. According to APRA Chairman Wayne Byres, the panel would consider the lender’s frameworks and practices in relation to the governance, culture and accountability to determine whether they conflict […]

The Australasian Performing Right Association (APRA), will simplify its rules for direct deals between composers and users under an authorisation granted today by the ACCC.

The culture of banking executives bringing home big salaries and bonuses while taking excessive risks with investors money may be a thing of the past if the APRA’s chairman John Laker gets his way. In a speech today in Melbourne, the chairman the Australian Prudential Regulation Authority has made clear that the current system of […]

The Australian Competition and Consumer Commission (ACCC) invites comment on a proposal to require the Australasian Performing Right Association (APRA) to streamline processes for composers dealing directly with music users. APRA currently collects royalties for songwriters for the public performance of music and most composers in Australia assign their rights to APRA to issue licences […]