Financial Services and Credit Quarterly Update October 2017

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Our latest Financial Services and Credit Quarterly Update for the third quarter of 2017 can be downloaded here.

In the last 3 months, APRA has been much in the news:

  • draft legislation for the APRA-administered BEAR has now been released;

  • APRA is consulting on a new regime to make it easier to become a bank;

  • APRA is also getting new crisis management powers; and

  • APRA has launched a prudential inquiry into the CBA.

The CBA has been the other newsworthy organisation. In addition to the APRA inquiry it is also facing civil action by AUSTRAC, an ASIC inquiry and a class action launched by Maurice Blackburn. Full details are in the Update.There's a lot to stay informed about. In fact this issue of the Update is the longest yet.To keep our valued clients informed of some of the key items covered in this report, we're pleased to advise that we will be running a half-day seminar early in the new year. It will be an interactive session where we will be able to go deeper into the issues. Please watch out for your invitation.

Kathleen Harris and Patrick Dwyer

Legal Directors

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