Articles sur Murray inquiry

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Customers have the most to gain out of a review of the powers of the Financial Services Ombudsman, which sits under ASIC. Sergio Dionisio/AAP

Stronger role for ombudsman is the key to protecting bank customers

Out of the many changes the federal government has made to ASIC, the review of the Financial Ombudsman will have the biggest impact on customers.
Almost a year after it was finished, the government has responded to the Financial System Inquiry, agreeing with the majority of its recommendations. Lukas Coch/AAP

Super members the winner in sensible financial inquiry response

It's a good thing that Australia's large and growing super sector will attract greater policy focus in coming years.
Prime minister Malcolm Turnbull has accepted almost all the recommendations from the Murray Inquiry into the financial system. Mick Tsikas/AAP

Government to act against businesses exploiting credit card charges

The Turnbull government will ban businesses from charging consumers excessive surcharges on their credit cards, and move to inject more competition into the superannuation industry.
Large Australian banks are being required to significantly increase their levels of equity capital. Image sourced from www.shutterstock.com

Explainer: banks are raising capital, but should we be worried?

Investors may not like it but Australian banks have been given little choice by the prudential regulator other than to undertake capital raisings.
Voluntary administration has been the widely-used step in efforts to prevent a company being dissolved. Image sourced from www.shutterstock.com

Is it time to reform the cornerstone of Australia’s insolvency regime?

Voluntary administration was considered a state-of-the-art rescue procedure for struggling companies in 1993. But is is time for another wide-ranging review of our insolvency laws?
There is evidence Australia’s bank bill swap rate was manipulated: so what now for regulators? AAP/Dan Peled

Years on, ASIC still grappling with swap rate fixing scandal

The wheels of justice grind exceedingly slow and nowhere slower than in the Sydney headquarters of the Australian Securities and Investments Commission (ASIC). A recent report appears to show that ASIC…
Unlike America, Australia is overbanked. Nicholas Eckhart/Flickr

Murray inquiry not made for a future with fewer banks

A key component of the Financial System Inquiry handed to Treasurer Joe Hockey this week was that “the financial system should be subject and responsive to market forces, including competition”. But on…
With banks pulling back on lending to small business, the sector has had to look elsewhere for funding. Shutterstock

Small business feeling the lending crunch – and three ways to help

Since the global financial crisis, credit growth in Australia has returned. But while growth in home lending between 2008 and 2014 was relatively strong (0.49% per month), it was actually negative for…
The emphasis on the lump sum in superannuation unfairly moves risk to individuals. Image sourced from www.shutterstock.com

Superannuation: make income the outcome

Having led the world in the 1990s in embracing defined contribution retirement plans, Australia now is rightly reviewing whether the design of its retirement income system is meeting the needs of Australians…
The big four banks have a well-entrenched sales culture. deepwarren/Flickr

The future of financial advice is set to remain conflicted

Reading between the lines it appears the panel behind Australia’s wide-reaching Financial System Inquiry believes all is not well in the financial advice industry, despite last year’s implementation of…
Financial System Inquiry chair David Murray delivered the 460 page interim report at the National Press Club today. Lukas Coch/AAP

Infographic: the financial system inquiry at a glance

The last financial system inquiry held in Australia happened in 1997. More than a decade and a global financial crisis later, the sector is under scrutiny again. The inquiry delivered its interim report…
Australia’s massive superannuation sector is costly compared with its global counterparts. Joel Carrett/AAP

Financial system inquiry sets sights on super: experts react

Australia’s financial system is competitive and well regulated, but more work is required to boost superannuation competition, according to the interim report of the Financial System Inquiry, led by former…
Conflicts abound in Australia’s financial system. Dan Peled/AAP

Three financial system flaws David Murray can’t ignore

At the current frequency of financial system inquiries (Campbell 1982, Wallis 1997, Murray 2014) there will not be another until 2030. That makes this week’s interim report from David Murray all the more…
An increasing number of consumers choose a broker over going direct to a bank for their home loan. Dan Peled/AAP

Looking for a home loan? Choose from one of these four options…

Over 40% of mortgages in Australia are sold by mortgage brokers, not by their manufacturers - an issue that has the CEO of Australia’s fifth largest bank, Suncorp, arguing the sector is skewed towards…
Superannuation: you give, they take. Paul Kelly/Flickr

Superannuation is too costly, so bill me

The main reason superannuation costs are too high in Australia is both simple and horrendously complex: it’s the only service we buy where we give the service provider our money to look after. It’s true…
US bankers like JPMorgan’s Jamie Dimon fear increased bank regulation. Chuck Hagel/Flickr

Time for bankers to have a capital rethink

A plan by US regulators to impose greater capital requirements on the nation’s eight biggest banks has prompted complaints it will put the banks at a global disadvantage. The proposal is that the banks…
The government’s financial system inquiry should consider whether growth in the system is hampering economic growth. AAP/Tony McDonough

Is Australia’s financial system a zero sum game?

Governments seem to be enamoured with financial markets, judging by the support they give them around the world to encourage their growth. The assumption seems to be that there’s always a positive relationship…

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