ABA takes aim at fresh faces Lachlan Maddock 03 February 2021
New players in the Australian financial landscape are ratcheting up the risk for some of its biggest institutions, according to the Australian Banking Association (ABA).
While banks are subject to a host of prudential and consumer regulations, many new entrants to the payments landscape – including buy now, pay later (BNPL) players like Afterpay – are not. The ABA believes that could endanger the whole system.
“The gaps have the potential to introduce new risk into the payments system or undermine the effectiveness of existing regulation, including consumer protection, and the detection and prevention of money laundering and financial crime,” the ABA said in a submission to Treasury on the matter.
New player enters vendor finance game realestatebusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from realestatebusiness.com.au Daily Mail and Mail on Sunday newspapers.
The emerging insurance group has added new benefits to many of its coverage options following the appointment of new management late last year. In a statement, Integrity Life said it had added a new C
Despite being cleared of wrongdoing, ASIC chair James Shipton will leave the regulator permanently after helping to choose a successor. Mr Shipton has been cleared of wrongdoing in the ASIC expenses
Aberdeen Standard appoints new APAC CEO 1 minute read 27 January 2021
Aberdeen Standard Investments (ASI) has appointed a new APAC chief executive to spearhead its “ambitious growth agenda” in the region.
René Buehlmann will take the reins at the APAC business, succeeding Hugh Young, who will take on a new role as Asia chairman. Mr Buehlmann will have responsibility for driving ASI’s global strategy in the region as it invests to build out its franchise and will be a member of the executive leadership team, reporting to Standard Life Aberdeen CEO Stephen Bird.
“The Asia Pacific region is core to Standard Life Aberdeen’s growth strategy. René’s wealth of experience in asset and wealth management, deep knowledge of key client segments and a proven record of developing a strategic business will support our growth ambition,” Mr Bird said.