Mike Taylor

The Australian Securities and Investments Commission has announced it is suing FIIG Securities over alleged cybersecurity failures. The regulator has announced that it has taken action in the Federal Court alleging that FIIG failed to have adequate cybersecurity measures for...

Big industry fund, Cbus, has been hit with another enforceable undertaking imposed by the Australian Prudential Regulation Authority (APRA). APRA announced it has taken further action to address material prudential concerns identified with United Super Pty Ltd (United Super) and to...

MLC Life Insurance is to merge with Resolution Life Australasia forming what will be one of the nation’s largest life insurance businesses, Acenda. The merge results from MLC Life’s parent, Nippon Life Insurance Company acquiring 100 per cent of Resolution...

With the 10 largest banking and insurance groups having paid an upfront levy of around $241 million to fund the Compensation Scheme of Last Resort (CSLR), the Australian Banking Association (ABA) is making clear its members do not want to...

National Australia Bank (NAB) is facing Federal Court action initiated by the Australian Securities and Investments Commission (ASIC) for allegedly failing to deal with 345 customers seeking hardship support in a timely fashion. ASIC announced that it had commenced the...

Australia's major superannuation lobby group has urged a legislative prohibition on regulators utilising reported data to pursue enforcement.

The Australian Securities and Investments Commission (ASIC) has sent a clear message to financial services businesses and licensees that they should not allow their adoption of artificial intelligence (AI) to get ahead of their governance structures. ASIC has issued the...

Australia’s largest superannuation fund, AustralianSuper, has broken new ground with a $2.2 billion investment giving it exposure to the US data centre market.

In an unprecedented move, the Australian Securities and Investments Commission (ASIC) has initiated Federal Court proceedings against the Australian Securities Exchange (ASX) alleging it made misleading statements around its Clearing House Electronic Sub-register System (CHESS) replacement project. ASIC is alleging...

The Australian Prudential Regulation Authority (APRA) says its staff are not allowed to use ChatGPT or other generative artificial intelligence (AI) on the APRA network. The regulator has also told a Parliamentary committee that inputting APRA’s information into public generative...

The evidence about the conduct of senior Commonwealth public servants provided to the Robodebt Royal Commission is both astonishing and disturbing.

In another push for scale in the medium-sized banking arena, Heritage Bank and People’s Choice Credit Union have entered into a non-binding agreement to explore a merger. The two customer-owned entities announced the possibility of a transaction today, noting that...

The acquisition of Afterpay by US payments company Square Inc is being measured as the largest transaction of its type in Australia, delivering to its Aussie founders a multi-billion-dollar windfall. But for Square, the acquisition represents a shortcut. That shortcut...

The banking group, which only weeks ago announced its intention of staying in New Zealand, announced it will sell its Westpac Life-NZ-Limited arm to Fidelity Life Assurance and enter into an exclusive 15-year agreement for the distribution of life insurance...

With competition heating up between financial services technology providers and some research houses, the company which provides key funds manager identifier codes, APIR Systems, has launched a new product to help clients deal with Design and Distribution Obligations (DDO). Following...