"Balanced scorecards", of the kind countenanced by the Australian Prudential Regulation Authority, are inherently unbalanced.
People expect financial institutions to serve them better in the wake of the royal commission. There's reason to believe they won't, for long.
Investigative journalist Adele Ferguson on the ‘disappointing’ banking royal commission and how she works with whistleblowers.
The Conversation51.9 MB (download)
Today on Media Files, it's journalism versus the big banks. We're hearing from Adele Ferguson, the celebrated journalist who many credit as the driving force behind the banking royal commission.
The government has agreed to create an independently-chaired body to report on the performance of ASIC and APRA, but it hasn't said its reports will be made public.
There's concern that paying upfront for the services of mortgage brokers would frighten customers away. But it needn't, if they provide good service and explain what are charging for.
The budget will include another round of tax cuts and provide about $600 million to pursue wrongdoers and help restore trust in the financial system.
Superannuation fund supremo Greg Combet has a radical idea: to promote the business concept of 'long-term value'.
Josh Frydenberg wants to leave mortgage broker commissions unchanged for three years. It's hard to see why.
There's a problem in thinking more women on boards is a great indicator of significant progress on diversity.
The ASX was late to the corporate governance party and its fourth reheat remains as flawed as ever.
Suddenly, ASIC is about to have real power. It'll be easier to get prosecutions and they will hurt, even if the law remains less than completely clear.
There are better ways to teach financial literacy than through school banking schemes.
In trying to be values-free (like physics & chemistry), business schools have succeeded in justifying amoral behaviour. No more! We've seen the results in the Banking Royal Commission.
The push against brokers might be right in theory, wrong in practice.
Do regulators act in the public interest, or in the interest of those they are meant to regulate?
There are things we can do, but the Economic Society's poll finds that not all of them are part of the traditional economists' toolkit.
More than a third (35.4%) of respondents surveyed by the Australian Leadership Index believe banking and financial institutions show "no leadership for the greater good".
The government doesn't need to extend jurisdictions, or boost enforcement powers to prosecute corporations that have behaved dishonestly. The law for prosecution is there already.
Complaints that Hayne didn't recommend big changes miss the point.
Deep Saini speaks with Michelle Grattan about the week in politics.