Unravelled: Productivity Commission's report on superannuation – an odd mix of recommendations

Before we are crushed by a heavy tome on Monday afternoon, I would like to say something about the recommendations in another heavy tome – the Productivity Commission's report on superannuation. The recommendations are an odd mix.

from Allens Banking & Finance publications http://www.allens.com.au/pubs/fsr/1902-unravelled-01.htm

Unravelled: The future age of AI

We will be able to cease speculation on what is in or not in the Final Report of the Financial Services Royal Commission on Monday evening (or after whatever time it takes to read and digest!).

from Allens Banking & Finance publications http://www.allens.com.au/pubs/fsr/1902-unravelled-02.htm

Allens insights: The Kwinana Waste to Energy project and the waste-to-energy landscape in Australia

After four years in the making, the first commercial waste-to-energy project in Australia has achieved financial close, but what opportunities and challenges lie in store for waste-to-energy in Australia?

from Allens Banking & Finance publications http://www.allens.com.au/med/insights/insightsjanXIX.htm

Unravelled: What's ahead for home loans in 2019

As we, and many others, have written over the course of this year, the Royal Commission will bring (and, in fact, already has brought) monumental changes both in how banks are regulated and to the actual laws that apply to them.

from Allens Banking & Finance publications http://www.allens.com.au/pubs/fsr/1812-unravelled-02.htm

Focus: New APRA prudential standard raises bar for information security obligations and incident notification requirements

As companies and regulators across the world grapple with ever-increasing cyber security threats, Australia's financial services regulator, APRA, has released the final form of a new prudential standard. It will require APRA-regulated entities to establish and maintain information security controls to protect customer data, and to notify APRA of information security incidents that have, or may have, a material effect on customers' interests. This will have significant implications both for regulated entities and for their boards of directors. Partners Gavin Smith and Simun Soljo and Lawyer James Higgins report.

from Allens Banking & Finance publications http://www.allens.com.au/pubs/fsr/fofsr15nov18.htm

Unravelled: AFCA's powers and obligations - 'systemic issues'

In his Interim Report, Commissioner Hayne rejected claims that misconduct in the financial services sector was the fault of 'a few bad apples' and did not raise 'broader or systemic concerns'. Commissioner Hayne's comments made me think about AFCA and what it can do (and must do) about 'systemic issues' identified in the course of handling complaints.

from Allens Banking & Finance publications http://www.allens.com.au/pubs/fsr/1811-unravelled-01.htm

Unravelled: The ins and out (goings) of responsible lending

Very broadly speaking, current legislation relating to responsible lending says that a person must not recommend or make an 'unsuitable' loan to a consumer – an unsuitable loan being one that either does not meet the consumer's requirements and objectives, or imposes repayment obligations that they are unable to meet without substantial hardship.

from Allens Banking & Finance publications http://www.allens.com.au/pubs/fsr/1811-unravelled-02.htm