Articles on Banking royal commission

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New AMP chair David Murray’s prescription for corporate governance doesn’t acknowledge the structural drivers of systemic misconduct. Joel Carrett/AAP

Treasury admits corporate governance is broken but baulks at systemic fixes

Evidence to the Banking Royal Commission points to the systemic failings of corporate governance built on the idea of shareholder primacy. It's time to rethink the unitary board system for a start.
The royal commission has left AMP with a lot of explaining to do, much of it related to how performance targets drove poor behaviour. Daniel Pockett/AAP

Five steps business can take to ensure aggressive performance targets don’t drive bad behaviour

Pressure to meet ever-higher performance targets can lead to misconduct of the sort exposed by the royal commission. Targets need to operate within a framework of ethical governance to avoid this.
From the first hearings of the royal commission, the senior counsel assisting, Rowena Orr QC, laid bare the toxic culture behind many consumer lending practices. Eddie Jim/AAP

Restructuring alone won’t clean up the banks’ act

Restructuring might help manage conflicts of interest between offering advice and selling products, but it doesn't fix the culture that sacrifices customers' interests to the pursuit of profits.
It is hoped that the Royal Commission will bring a renewed enthusiasm for suitable and properly adapted customer service provision that values Indigenous consumers and take their circumstances into account. AAP Image/Dean Lewins

The Royal Commission revealed financial services woes for many Indigenous customers. Here’s what can be done

With enough will and resourcing, many of the structural issues that make financial services a trial for many Indigenous consumers can be overcome. But we need more regulation to deter sharp practice.
The Financial Services Royal Commission has exposed some irresponsible lending by Australia’s biggest banks. Glenn Hunt/AAP

We asked five experts: will the banking royal commission push down property prices?

The financial institutions fronting the Financial Services Royal Commission are also the ones controlling mortgages, so will an expose of their dealings push property prices down?
People who have a financial shock are at greater risk of depression and a raft of other physical and mental health issues. Ethan Sykes/Unsplash

Losing wealth, health and life: how financial loss can have catastrophic effects

Unaffordable home loans, poor financial advice and unmanageable consumer credit may have serious consequences for many Australians, beyond bankruptcy and debt. Here's what the research says.

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