ASIC wants non-bank data 04 June 2021
The corporate regulator has pushed the government for data collection powers across non-bank lenders, which could allow it to bulk up its regulation of the sector.
The corporate regulator is “struggling” with its monitoring of non-bank lenders, ASIC commissioner Karen Chester told Senate estimates on Wednesday (2 June), which is limiting its ability to roll out product intervention orders.
Using its partnership with APRA, ASIC is able to leverage data collected from the prudential watchdog across insurance and superannuation.
But the regulator does not have data collection rights across managed investment schemes, funds management and non-bank lenders (including buy now, pay later providers and payday lenders).
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May 20, 2021, President Biden issued his Executive Order on Climate-Related Financial Risk, stating that it is the policy of the Administration to: advance consistent, clear, intelligible, comparable, and accurate disclosure of climate-related financial risk.
On May 20, 2021, President Biden issued his Executive Order on Climate-Related Financial Risk, stating that it is the policy of the Administration to “advance consistent, clear,.
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Self-managed superannuation funds have gobbled up controversial leveraged property loans as the housing market reignites following the COVID-19 crisis, with lending to SMSFs surging by 6 per cent over the previous quarter.
SMSFs held $59.4 billion worth of limited recourse borrowing arrangements at the end of March, up almost $4 billion from the $55.8 billion worth of LRBAs at the end of December, according to figures released by the Australian Taxation Office on Wednesday,
SMSFs are piling into the property market.
The 6.5 per cent jump in outstanding leveraged loans in the $750 billion SMSF system is a return to sharp growth in property investment for self-managed nest eggs, after the rate of borrowing held largely steady over the course of the coronavirus pandemic during 2020.