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Latest news and insights on banking and finance in Australia and New Zealand, as delivered in the daily 7am Banking Day email news service (subscribe or take out a free trial).

Subscription content please login to view - NPP spreads fertiliser on payments NPP spreads fertiliser on payments
24 June 2016 6:57am
The fourth quarter of 2017 is now the slated time for Australia's New Payments Platform to lurch into action. » read more »
Subscription content please login to view - Versatile Lovney leads NPP Versatile Lovney leads NPP
24 June 2016 6:56am
Bankcard holds the record, at 32 years, for the lifetime of a collaborative banks' payments scheme in Australia. Another scheme, a step removed from consumer credit, is rolling down the line in the form of the New Payments Platform and promising a nirvana of real time payments and digestible remittance fields.
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Subscription content please login to view - Macquarie Investment Management failed to comply with its duties as a responsible entity Macquarie Investment Management failed to comply with its duties as a responsible entity
24 June 2016 6:55am
The Australian Securities and Investments Commission has commenced proceedings in the Supreme Court of New South Wales against Macquarie Investment Management, to determine the appropriate penalty for Macquarie's failings as the responsible entity for a share fund. » read more »
Subscription content please login to view - 2nd Annual Conduct Risk, Culture & Regulation 2016 2nd Annual Conduct Risk, Culture & Regulation 2016
24 June 2016 6:48am
With APRA and ASIC now increasingly administering fines for institutional misconduct in banking and financial services, financial institutions must place more pressure on conduct risk and ensure a culture is embedded throughout the organisation from top down. » read more »
Subscription content please login to view - Commercial real estate and property development 'vectors of distress' Commercial real estate and property development 'vectors of distress'
24 June 2016 6:46am
Banking industry regulators are spending more time watching for emerging risks in the commercial real estate and property development markets than they are in the household sector. » read more »
Subscription content please login to view - Remuneration the weak link in bank culture Remuneration the weak link in bank culture
24 June 2016 6:44am
A survey of staff in banks worldwide has revealed that remuneration policy is generally "not favourably perceived" and is the element in bank culture most likely to lead to bad behaviour.

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Subscription content please login to view - Find a job in banking Find a job in banking
24 June 2016 6:40am
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Subscription content please login to view - Briefs: Direct Money finds a funder, Toevs is CBA's CRO emeritus Briefs: Direct Money finds a funder, Toevs is CBA's CRO emeritus
24 June 2016 6:39am
Marketplace lender DirectMoney has signed a non-binding term sheet with a "major Australian financial institution" to establish a A$20 million loan sale facility. » read more »
Subscription content please login to view - Foreign news: Commerzbank moves into marketplace lending, alternative credit fund lists on the LSE Foreign news: Commerzbank moves into marketplace lending, alternative credit fund lists on the LSE
24 June 2016 6:37am
Commerzbank is launching a marketplace lending platform as part of a broader digitisation strategy. » read more »
Subscription content please login to view - Law Reform Commission flags mandatory financial abuse reporting Law Reform Commission flags mandatory financial abuse reporting
23 June 2016 6:59am
Financial abuse will be a focus of the Australian Law Reform Commission inquiry into elder abuse, with the commission raising the prospect of a mandatory reporting regime for financial institutions. » read more »
Subscription content please login to view - Austrac warns of under-investment in AML/CTF capability Austrac warns of under-investment in AML/CTF capability
23 June 2016 6:57am
Australian companies are under-investing in systems to deal with their anti-money laundering and counter-terrorism financing obligations, the AML/CTF regulator says. » read more »
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