Mortgage originator-manager model on trial 20 May 2016 4:21PM The court battles between loan originator and manager Pioneer Mortgage Services Pty Ltd and lending funder Columbus Capital Pty Ltd moved to a full court hearing in the Federal Court yesterday, with P.. read more
ASIC orders HSBC to 'review and remediate' wealth advice 18 May 2016 4:10PM HSBC Bank Australia Ltd is to "review and remediate" clients who received "potentially deficient" advice on retail structured products between January 2009 and March 2013. This is the main outcome of.. read more
Former CBA adviser back in court over forged signatures 18 May 2016 4:09PM Following an ASIC investigation into a Gold Coast financial planning firm connected with the Commonwealth Bank, Ricky David Gillespie appeared in the Southport Magistrates Court. He was there on one r.. read more
Westpac goes to tap retail investors for A$750m 18 May 2016 4:09PM In a well-flagged move, Westpac has launched its latest capital raising - a Tier 1 hybrid offer to retail investors, seeking to raise A$750 million (although the bank has left itself room to go up or.. read more
Covered bonds coming back for APAC majors 18 May 2016 4:07PM Mortgage-covered bonds issued by Australia's four major banks increased 51.8 per cent year-on-year in the first quarter of 2016 to A$8 billion, primarily due to the refinancing of A$7.8 billion of mat.. read more
Securitised car loan defaults edge upwards in 2016 17 May 2016 2:58PM The performance of Australian auto loan asset-backed securities deteriorated in the three months to 31 March 2016, according to Moody's Investors Service. read more
ING Direct tests the fintech waters 13 May 2016 4:48PM Australia's largest online only bank remains respectful of the tech-focussed financial services community, rather than seeing it as a possible source of challenger businesses. After all, ING Direct wa.. read more
ING Direct re-sets for a full service online future 13 May 2016 4:46PM Online bank ING Direct has completed a major technical and design overhaul of its banking platform which the bank's executive director customer delivery Lisa Claes said was the largest single investme.. read more
AFMA to move out of financial benchmarks 11 May 2016 4:23PM In a market notice published today, the Australian Financial Markets Association has said it will step away from its function as the Bank Bill Swap administrator. read more
Comment: the next bank swap administrator 11 May 2016 4:22PM In retrospect, the decision by AFMA to step away from setting the all-important swap rate should be seen as a natural progression of the industry consultation that has been underway in recent years, l.. read more