Our financial system is the envy of the world despite the current issues around misconduct plaguing the industry at large. One area we have excelled in is regulation technology. RegTech offers cost effective tools and techniques to manage risk, regulations and compliance. This session will explore how we are already providing solutions to some of the biggest problems financial institutions face today and why adapting these technologies will contribute to a more efficient, fair and transparent financial system.

A picture tells a thousand words and the imagery used in, and presentation of, advertisements is just as important as the language used within them. The session will recap ASIC’s recent action, the common pitfalls, and what good looks like in relation to advertising.

CCR will significantly change the lending landscape in Australia and we discuss the implications for consumers and lenders alike. Looking at evidence from CCR pilot studies and learnings from overseas regimes we discuss who will benefit from positive data sharing and use.

Invaluable insights into what causes financial hardship and why Australian households are experiencing serious debt overload.

Will tougher penalties impact lending behaviour? We discuss rebalancing stake-holder interests to manage risk and reputation.

The digital space provides challenges for mortgages and we take a closer look at the legal considerations around providing credit online today.

10 years since the collapse of Lehman Brothers we reflect on what Australia has learnt from such a crisis and how it still influences decisions around risk today.

Australia still takes cautionary steps when it comes to mortgage innovation and with the amount of innovation occurring in the digital space with open data we discuss how ‘useful data’ informs risk takers today.

Regardless of the model used to originate business credit shared key legal issues arise. Exploring some of these issues that are unique to small-business lending, which include, determining the purpose of the loan and whether certain consumer laws apply, we look at
licensing and digital contracting issues among other prudential regulations. We examine what constitutes a “business purpose” for a loan and ask will companies like Amazon lending to small businesses and making informed decisions based on useful data change the game?

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Targeted and principles-based product design and distribution obligations are here and we discuss its impact on the industry and most importantly the consumer. This obligation will ensure products match a consumer’s needs, promoting fairness as well as contributing to the avoidance of prescriptive regulation in the future. Such design will re-store confidence and build trust in the financial system.

Has regulation become self-defeating? We discuss the obligations of the regulator and the regulated in these challenging times for the industry. There is a need for both but are we in need of a Financial Regulator Assessment Board? The Murray Inquiry recommended such a board be in place to provide further oversight and we debate the current regulatory architecture and why such a board is necessary, whilst acknowledging the current Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Open banking will give the consumer greater control of the data that banks and other financial institutions currently hold. This session will examine the implications around retrieving data from a financial services provider to share with a third party whilst looking at the institution’s obligations to the consumer. Looking at the United Kingdom and South African models we learn from their lessons so far what is best practice.

Discussing the positive impact of AFCA’s authority on EDRs going forward and the impact of consumer advocates on IDRs, we take a closer look at product design, disclosures and targeted distribution issues with financial literacy in mind. We will also examine what it will take to restore confidence and how customer remediation is an important part of that process.