Articles on ASIC

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The federal government has announced a royal commission into banks and other financial services entities. AAP

Banking royal commission will expose the real cost of bad behaviour

Even though the Prime Minister and heads of the big four banks argue costly political uncertainty is the reason for the royal commission, experts argue the banks' behaviour itself is the real cost.
APRA’s independent inquiry panel member, John Laker, who is also chairman of the Banking Finance Oath initiative, will be one of the ones holding the CBA to account. DAN HIMBRECHTS/AAP

Where the accountability problems started at CBA

One scandal at the CBA stands out above all others, It set the scene for how the CBA board would handle future scandals, that is to obfuscate, prevaricate and litigate.
Commonwealth Bank CEO Ian Narev got a 50% pay rise despite scandals involving the bank in 2016. Dan Himbrechts/AAP

ASIC gives the banks cause for Christmas celebration

Just before everyone sits down for their Christmas dinner ASIC has handed two of Australia's big four banks a big present.
Banking inquiries in their current form serve as political theatre, rather than as a genuine form of accountability. Lukas Coch/AAP

Banking inquiry findings – ask the wrong questions get the wrong answers

Members of House Standing Committee on Economics should be asking the directors of Australia's Big Four banks (not the CEOs) different questions, if they really want the right answers.
Mortgage tracker rates follow the cash rate. www.shutterstock.com

Business Briefing: rate tracker mortgages

Business Briefing: rate tracker mortgages. The Conversation16.3 MB (download)
Rate tracker mortgages could provide some certainty for customers and increase trust in the banking sector.
The Australian Prudential Regulation should be put up for a capability review. Mick Tsikas/AAP

APRA take the easy road out with risk culture

Just when we all thought that the Australian Securities and Investments Commission (ASIC) had already won the race to be most ineffective regulator of the year, up pops the Australian Prudential Regulation…
Kelly O'Dwyer said legislation would be introduced into parliament this year to mandate professional standards for advisers. Mick Tsikas/AAP

Slow start to new standards requirements for financial advisers

The large banks and AMP will be required to fund the establishment of a new independent body to oversee the professional standing of the much-criticised financial services industry.

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