ASIC's shadow shopping initiative
ASIC had advised MFAA members at PD day events across the country earlier this year of its plans to conduct a shadow shopping exercise in 2018. Based on projected timing discussed back in February, th...
Royal Commission
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was announced on 30 November 2017 and formally established on 14 December 2017. The Commissioner is to provide an interim report to the Government by 30 September 2018 and a final report by 1 February 2019.
Productivity Commission
The Australian Government had asked the Productivity Commission to undertake a 12-month inquiry into competition in Australia's financial system, known as the inquiry into Competition in the Australian Financial System.
Don’t blame brokers for big bank misconduct
There is a risk that the big banks are using brokers as a shield to divert attention away from allegations of their systemic issues, stifling of competition and massive community trust deficit.