BFCSA Blog

Quite simply they are cheating.  They are targeting older people who own their own home and suggesting in an aggressive media campaign that people will be better off financially if they listen to the Evil Bankers and their agents!!! Australia has only 23 million people and most banks north of the hemispherical divide have never heard of Australia.  So how do they become the most profitable?  Making paper money? Or, perhaps plucking money and figures out of thin air in a wicked attempt to grab people's land titles?  REUTERS are on to this insane situation which we have been warning of for years.  Consumers are at last being listened to.  Their stories are important when one is seeking THE TRUTH about Australian Bankers.   Australian Securities and Investment Commission is there to protect the banks, not the people. Parliament dictated that ASIC is responsible for the Financial Markets, Consumer Confidence and...

Quite simply they are cheating.  They are targeting older people who own their own home and suggesting in an aggressive media campaign that people will be better off financially if they listen to the Evil Bankers and their agents!!! Australia has only 23 million people and most banks north of the hemispherical divide have never heard of Australia.  So how do they become the most profitable?  Making paper money? Or, perhaps plucking money and figures out of thin air in a wicked attempt to grab people's land titles?  REUTERS are on to this insane situation which we have been warning of for years.  Consumers are at last being listened to.  Their stories are important when one is seeking THE TRUTH about Australian Bankers.   Australian Securities and Investment Commission is there to protect the banks, not the people. Parliament dictated that ASIC is responsible for the Financial Markets, Consumer Confidence and...

NAB enters undertaking with ASIC 24 Dec, 9:46 AM 2Financial Services     AAP The National Australia Bank Ltd has entered into an enforceable undertaking with the Australian Securities and Investment Commission following an inquiry into an October 2012 share price spike on the Australian stock exchange. The undertaking relates specifically to NAB's responsibility for potential market misconduct undertaken by the trading personnel of a contractor, which led to the spike, ASIC said. "NAB has agreed to adopt specific monitoring and control systems for its direct market access trading and ASIC will supervise the certification of those systems for the next three years," the watchdog said in a statement. It said the NAB would also make a voluntary contribution of $2 million to fund independent financial literacy projects in Australia. ASIC Commissioner Cathie Armour said the undertaking was a timely, effective way to ensure there was genuine change to monitoring and...