The Government is committed to helping Australian businesses innovate using technology by piloting a new user-focused approach to simplify the language and advice provided to ICT users of the Research & Development Tax Incentive. The Department of Industry, Innovation and Science will engage a range of sectors to co-design the development
Read MoreThe Commonwealth Bank of Australia has been in the headlines lately for all the wrong reasons. Beyond money-laundering allegations and the announcement that CEO Ian Narev will retire early, the CBA is now also being sued in the Australian Federal Court for misleading shareholders over the risks climate change poses
Read MoreThe Australian Securities and Investments Commission is calling for expressions of interest from financial services and consumer credit industry participants who are interested in becoming members of the new ASIC Financial Services and Credit Panel. We will draw on these members who, with an ASIC staff member, will consider making banning
Read MoreThe Australian Securities and Investment Commission (ASIC) has banned financial adviser Travis Byron McLean from providing financial services for a period of five years. ASIC found that Mr McLean failed to act in his clients' best interests when providing advice and that he failed to comply with several financial services laws. ASIC
Read MoreThe Commonwealth Bank (CommBank) will refund over 65,000 customers approximately $10 million, after selling them unsuitable consumer credit insurance (CCI). CCI is a type of add-on insurance, sold with credit cards, personal loans, home loans and car loans. It is promoted to borrowers to help them meet their repayments if they
Read MoreFormer Attorney General Cheryl Edwardes has been appointed as a part-time member to the Foreign Investment Review Board (FIRB) for a five-year period. The Board is a non-statutory body established in 1976 to provide advice on the Government’s foreign investment policy and its administration. The Board’s functions are advisory only. Ms Edwardes
Read MoreOne of the biggest turnoffs for US investment and workers is also the biggest pet peeve for locals – housing affordability. Our research finds lifestyle factors are what makes Australia stand out from other international destinations. We combined 13 in-depth case studies of firms with strong ties between the United
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The Governor, Philip Lowe, announced today in his opening statement to the House of Representatives Standing Committee on Economics that the new $10 banknote will be released into general circulation from 20 September 2017. This follows the release of the new $5 banknote last year. As part of his announcement, the Governor
Read MoreSome good news this week on business confidence. The NAB monthly business survey for July showed business conditions rising to the highest level since 2008. The business conditions index was at +15 “index points”, triple the long-run average. The business confidence index rose 4 points to +12. There was a sting
Read MoreSoon, you will be able to check your bank balance or transfer money through Facebook Messenger and Twitter as banks experiment with chatbots. Companies like Ikea have used customer service chatbots for close to a decade. But their use in financial services represents a new tension - do we want
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