ASIC has published its 2025 review of the consumer lease industry following recent action to enforce legislative changes made in 2022.
ASIC’s review revealed that several providers have stopped offering consumer leases and some have started to offer alternative regulated
Financial
ASIC gives limited no action to ongoing fee arrangements non-compliance
ASIC has announced that it has granted a limited no-action position from client consent requirements when financial advisers and superannuation trustees enter into ongoing fee arrangements.
The no action position is in response to the failure to include account numbers…
APRA Information Security Obligations and Critical Authentication Controls
Austrac AML/CTF changes guidance
Austrac has announced its timetable for guidance to support both current reporting entities and tranche 2 entities to implement effective AML/CTF measures.
Austrac’s guidance in 2025, will include:
- the scope of the new regulated services;
- core obligations and how they
…
APRA guidance on HELP debt when assessing home loan applications
APRA has published changes to Prudential Practice Guide APG 223 Residential Mortgage Lending and Reporting Standard ARS 223.0 Residential Mortgage Lending relating to how ADIs consider Higher Education Loan Program (HELP) debt when assessing home loan applications.
APRA says its…
Consumer Data Right (CDR) update
The Australian Competition and Consumer Commission (ACCC) has announced that National Australia Bank Limited (NAB) has paid penalties totalling $751,200 after the ACCC issued it with four infringement notices for alleged contraventions of the Consumer Data Right (CDR) Rules.
The…
What do you do with the contents of a safety deposit box 122 years later? (UK)
A bank sought the court’s assistance in resolving a novel problem, namely its possession in its London branch of 14 safety deposit boxes which it appeared to have held for between 44 and 122 years and, in relation to which,…
Determining “Loss” in non-marine policies (UK)
The recent judgment of Aercap Ireland Limited v AIG Europe S.A. & Others relates to claims made under insurance policies by aircraft leasing companies in respect of aircraft and aircraft engines, which the leasing companies contended had been lost to…
NYC Comptroller Report Calls for Overhaul of State Consumer Financial Protections
Tailor-Made Intelligence: From Off-the-Rack to Runway-Ready AI
Cambridge, MA – MIT EmTechAI: Waseem AlShikh, CTO and co-founder of Writer, took the EmTech AI 2025 stage to share the remarkable story behind one of enterprise AI’s fastest-growing platforms. Writer’s journey began with a simple but powerful idea: AI…