Articles on Commonwealth Bank of Australia

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Commonwealth Bank of Australia CEO Ian Narev attends the parliamentary inquiry into the banking system. AAP Image/Lukas Coch

Business Briefing: fixing culture in banking and finance

Business Briefing: fixing culture in banking and finance. The Conversation19.7 MB (download)
"Banking culture" has drawn a lot of scrutiny this year, after several high-profile scandals. But Professor Paul Kofman says there isn't much evidence for how to intervene if there's a problem.
Commonwealth Bank CEO Ian Narev speaks to the House of Representatives standing committee on economics. Lukas Coch/AAP

Bank inquiry won’t take royal commission off the political agenda

The initial day of the parliamentary interrogation of the big banks’ chiefs has probably only strengthened the hand of those urging a royal commission. Malcolm Turnbull proposed bank executives should…
ASIC chairman Greg Medcraft says the regulator ‘can’t look over everyone’s shoulder’. Dan Himbrechts/AAP

Banking royal commission should be paid for by banks

Banks have had notice of these issues and failed to resolve them - it seems only fair that they should have to pay.
CBA chairman David Turner blames the financial crisis for the bank’s financial planning saga. Paul Miller/AAP

Director’s duties: boards can’t just blame the GFC for their mistakes

The Australian Institute of Company Directors (AICD) is pushing for reforms allowing directors to rely on honest and reasonable conduct as a defence against company liability. The AICD believes this new…
The performance of ASIC in regulating financial fraud remains under question, despite Chairman Greg Medcraft’s recanted statement that Australia is a “paradise” for white-collar criminals. Britta Campion/AAP

Do the crime, do the time? Not if you’re a banker in Australia

Recently, the head of the Australian Securities and Investments Commission, Greg Medcraft, called Australia a “paradise” for white-collar criminals. Soon after he recanted, claiming he didn’t want the…
Some financial advisers are greedy, but others simply have a bias problem. Shutterstock

What behavioural economics tells us about financial adviser greed

There’s no doubt incentives matter for financial advisers. If an employer pays a higher commission to an adviser for selling one product instead of another, it’s likely the commission-linked product will…
Australia’s employee fraud problem needs a new approach. Shutterstock

Making companies pay for failing to prevent employee fraud

The high cost of organisational fraud in both private and public sectors in Australia continues to haunt organisations, particularly fraud committed by “trusted” employees. Cases prosecuted this month…
The independence of CBA’s Open Advice Review program has been called into question. Dean Lewins/AAP

Commonwealth Bank inquiry will need to be robustly independent

It clearly took some courage (and a lot of persuasion from powerful friends) to convince Ian Narev, the Chief executive of the Commonwealth Bank to respond to widespread demands and front the media with…
Commonwealth Bank CEO Ian Narev said the bank’s review process will be independent. Dean Lewins/AAP

Commonwealth Bank ‘truly sorry’, but independent review doubts

Commonwealth Bank of Australia chief Ian Narev has apologised for breaching customer trust after evidence emerged of serious…
The spotlight is on the David Murray’s Financial System inquiry following a report critical of the Commonwealth Bank and Australia’s corporate regulator. AAP/Joel Carrett

No Royal Commission; but banks not too big to be held to account

The Senate inquiry in the actions of the Commonwealth Bank and the Australian Securities and Investment Commission has drawn a line in the sand, holding the banks and financial advisers to account for…

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