array(1) { [0]=> &object(stdClass)#6574 (52) { ["id"]=> string(5) "17487" ["title"]=> string(72) "APRA’s mortgage crackdown, the power of DeFi and last-minute tax tips " ["alias"]=> string(68) "apra-s-mortgage-crackdown-the-power-of-defi-and-last-minute-tax-tips" ["introtext"]=> string(195) "

In this episode of The nestegg Podcast, host Maja Garaca Djurdjevic checks in with our three experts to talk through the biggest stories regarding property, superannuation and investing.

" ["fulltext"]=> string(1020) "

Steve Waters, director of Right Property Group, chats about APRA’s latest move which will see the borrowing capacity of millions of Aussies decrease. He shares if and how the regulator’s decision could impact the market.

Meanwhile, RMIT’s senior lecturer of finance, Dr Angel Zhong, chats about decentralised finance and how it compares to bitcoin.

Lastly, our regular tax and super expert Timothy Munro discusses the importance of a financial adviser amid a raft of changes to super and gives his last-minute tips to Aussies yet to lodge their tax returns.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "302" ["created"]=> string(19) "2021-10-07 01:50:42" ["created_by"]=> string(4) "2404" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2021-10-19 04:12:35" ["modified_by"]=> string(4) "2404" ["modified_by_name"]=> string(12) "Robyn Tongol" ["publish_up"]=> string(19) "2021-10-07 07:09:18" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(240) "{"image_intro":"images\/podcasts\/090321_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(855) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","send":"0","test":"0","comments":"1","readingDiff":"3","schema_active":"0","schema_name":"","schema_description":"","schema_thumbnailUrl":"","schema_uploadDate":"","schema_duration":"","schema_contentUrl":"","schema_embedUrl":"","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(61) "apra’s, mortgage, crackdown, power, defi, minute, tax, tips" ["metadesc"]=> string(200) "In this episode of The nestegg Podcast, host Maja Garaca Djurdjevic checks in with our three experts to talk through the biggest stories regarding property, superannuation and investing. Steve Water" ["access"]=> string(1) "1" ["hits"]=> string(3) "120" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "1020" ["ordering"]=> string(1) "1" ["category_title"]=> string(7) "Podcast" ["category_route"]=> string(17) "resources/podcast" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "podcast" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "82" ["author"]=> string(12) "Robyn Tongol" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(9) "Resources" ["parent_id"]=> string(3) "300" ["parent_route"]=> string(9) "resources" ["parent_alias"]=> string(9) "resources" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#6576 (3) { ["data":protected]=> object(stdClass)#6570 (95) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["menu-meta_description"]=> string(180) "Let us help you decide how you want to invest your money on. Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-10-07 07:09:18" ["slug"]=> string(74) "17487:apra-s-mortgage-crackdown-the-power-of-defi-and-last-minute-tax-tips" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(87) "/resources/podcast/apra-s-mortgage-crackdown-the-power-of-defi-and-last-minute-tax-tips" ["image"]=> string(65) "images/podcasts/090321_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

Latest Podcast

APRA’s mortgage crackdown, the power of DeFi and last-minute tax tips ...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Invest

APRA launches investigation into big 4 bank

By Cameron Micallef

December 17 2019
Share

Invest

APRA launches investigation into big 4 bank

By Cameron Micallef
December 17 2019

The prudential regulator has formally commenced an investigation into possible breaches of the Banking Act 1959 against a big four bank.

APRA launches investigation into big 4 bank

By Cameron Micallef

December 17 2019
Share

The prudential regulator has formally commenced an investigation into possible breaches of the Banking Act 1959 against a big four bank.

Westpac is facing allegations against its directors and/or its senior managers breaching the Banking Act – including the Banking Executive Accountability Regime (BEAR) – or contravened APRA’s prudential standards.

APRA will focus its investigation on the alleged matters identified by AUSTRAC (as Westpac took actions to rectify and remediate the issue once it was discovered).

The prudential regulator has imposed a $500 million capital requirement on the bank “to reflect heightened operational risk profile of the bank”.

APRA has now asked the bank to add an additional $1 billion, following a statement in July.

The regulators have also initiated an extensive review program focused on Westpac’s risk governance. “The review program will include risk management, accountability, remuneration and culture.”

APRA deputy chair John Lonsdale said: “AUSTRAC’s statement of claim in relation to Westpac contains serious allegations that question the prudential standing of Australia’s second-largest bank.”

The investigation offers APRA the opportunity to exercise legal powers that have been expanded and strengthened since 2017’s CBA Prudential Inquiry, including enhanced investigative powers and the implementation of the BEAR in 2018.

In a statement to the Australian stock exchange, Westpac group chairman Lindsay Maxsted said: “Westpac accepts the gravity of the issues presented by AUSTRAC.

“As previously stated, these shortcomings are unacceptable, and we are determined to urgently fix these issues and lift our standards.”

Following the allegations against Australia’s second-largest bank, its share price fell by 0.644 per cent to 24.690 shortly after the announcement.

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

Rate the article

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.