Financial Services and Credit Quarterly Update April 2021

Our latest free quarterly update on financial services and credit can be downloaded here

The first 3 months of 2021 has seen a flurry of enforcement activity, with proceedings against Allianz, CBA, CommSec, NAB, and Westpac, among others.

There was also an important High Court decision in the case involving Westpac entities on the meaning of “personal advice”. 

The responsible lending reforms have been delayed, but regulators are busy looking into other areas of reform, with a number of reviews or consultations under way including in relation to AFCA, credit betting, mobile payments, and new entrant banks.

We hope you find our update useful.

Patrick Dwyer and Kathleen Harris
Legal Directors

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