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.
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.
ASIC found that CommInsure didn’t breach the law with its handling of claims.
ASIC is telling CommInsure to do what it should have been doing all along. Let's forget the past and mistreatment of customers, it’s paradise for firms that prey on the sick and dying.
There are mixed results in research when it comes to the effect of shaming people into good behaviour.
Studies have shown that shame can motivate people to be both helpful but also vengeful, so the verdict is still out on whether it curbs bad behaviour.
The construction industry is particularly prone to illegal phoenix activity.
A primary focus on prosecuting those who have committed illegal phoenix activities has not been successful.
Scott Morrison’s UK visit may deliver some new ideas on data for Australia.
Australia could follow the UK's lead in fostering progress in the financial technology sector.
ASIC Chairman Greg Medcraft says the regulator is open to a settlement with the banks in the BBSW case.
2016 was not a good year for ASIC and now it looks like it might run up the white flag on its BBSW legal case.
Commonwealth Bank CEO Ian Narev got a 50% pay rise despite scandals involving the bank in 2016.
Just before everyone sits down for their Christmas dinner ASIC has handed two of Australia's big four banks a big present.
Consumers need more protection when it comes to making complaints about products.
The latest Productivity Commission report on how consumer law is being used shows that the same issues still haven't been addressed for years.
Banking inquiries in their current form serve as political theatre, rather than as a genuine form of accountability.
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.
Animal welfare advocates protesting a bill to stop whistleblowers in the agricultural industry.
Businesses are trying to set up procedures to help whistleblowers, but better guidance, incentives and regulation are still needed, new research finds.
ASIC has been highly critical of some of the practices of Australia’s big four banks.
An ASIC report detailing how financial advice was paid for but not given by Australia's big four banks exposes a culture problem that the government needs to deal with.
Mortgage tracker rates follow the cash rate.
Business Briefing: rate tracker mortgages.
The Conversation 16.3 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.
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.
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.
New ASIC regulations aim to improve transparency in the life insurance industry.
Data on the outcomes of life insurance claims will not only help individual customers but also financial advisers and super funds acting on behalf of consumers.
Many Australians will not benefit from the Financial Services Council’s new life insurance code, Gail Pearson says.
The Financial Services Council code of conduct for life insurance is the industry's last chance to reform before the government steps in.
Some home buyers can’t afford to go through the regular channels so the rent-to-buy deals appeal to them.
People who engage in rent-to-buy schemes might not be protected under law and are often left in unaffordable situations.
ASIC chairman Greg Medcraft could learn a thing or two from his US counterparts.
ASIC has been too slow to prosecute those accused of rigging the bank bill swap rate so it doesn't matter if the government makes the penalties harsher for those found guilty.
NAB CEO Andrew Thorburn defended the culture of the bank he works for during the House of Representatives Standing Committee on Economics annual public hearing.
As the chief executives of Australia's big four banks come before a House of Representatives economics committee, we ask a panel of experts what questions the banks should be answering.
Identifying repeat offenders doesn’t have to be complicated.
Image sourced from Shutterstock.com
One simple measure could go a long way to cracking down on illegal activity that is now widespread in Australia.