The banking sector has problems, but a Royal Commission isn’t the answer.
Royal Commissions work best when one specific issue can be addressed, rather than a wide range of problems.
ASIC chairman Greg Medcraft says the regulator ‘can’t look over everyone’s shoulder’.
Banks have had notice of these issues and failed to resolve them - it seems only fair that they should have to pay.
Financial System Inquiry chair and former Commonwealth Bank chief David Murray is party of a group of people calling for a legislated ‘objective’ of super.
Legislating an 'objective' for super could have many unintended consequences.
Access to small loans is getting easier, but not everyone is resilient enough to manage their finances.
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The payday lending sector is under scrutiny again after the Australian Securities and Investment Commission’s investigation into Nimble. After failing to meet responsible lending obligations, Nimble must…
Banks must accept they can’t control the values, beliefs and behaviours of their employees.
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Banks may pay lip service to ethical cultures but often curtail the critical questioning that allows ethical issues to be surfaced in the first place.
Former ANZ chief Mike Smith remains as a ‘non-executive advisor’ to the bank’s board.
Unethical behaviour by bankers represents a systematic risk to banks, and causes widespread harm.
Wall Street has been difficult to tame.
Sanders and Clinton have been trading blows over who’d be best to reform Wall Street, but new research suggests they may not have the ‘authority’ to do it.
ASIC Chairman Greg Medcraft and Commissioner Cathie Armour during a Senate Estimates hearing at Parliament House. Medcraft told the hearing ASIC must be a ‘model litigant’.
ASIC has a high success rate, but its high-profile civil action against ANZ Bank will be a tough battle to win.
Commonwealth Bank CEO Ian Narev and CFO David Craig have a new risk problem on their hands.
If ASIC gets its way and 'conduct risk' is regulated, banks might get serious about systematic problems.
Out of kilter? Deutsche’s CEO makes his pitch.
Is the debt designed to prevent another financial crisis turning on its creators?
Martin Shkreli had victims long before he turned his hand to pharmaceuticals.
The lack of transparency and accountability found in the hedge fund world is increasingly finding a home in the pharmaceutical sector, where more people care.
When banks fail, it’s customers that usually end up out of pocket.
A flat rate bank deposit tax could be distorting, and not for the reasons the banks suggest.
Convicting individuals of wrongdoing is important but only a culture change in the financial sector will stop future crimes.
In bank stress tests, what’s worse: runs or lemons (the other kind)?
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US regulators chose to reveal detailed information to the public about the state of the banks. They were able to be so transparent, without triggering a run, because of a strong fiscal backstop.
APRA’s recent review of bank capital found Australia’s banks are stronger than they appeared to be.
Global regulators are requiring banks to hold more capital, so how high should Australia aim?
Both the ASX and ASIC were aware BBY was struggling before its collapse but allowed it to continue trading.
AAP/ Joel Carrett
As investors and unsecured creditors remain in limbo over the collapse of financial services group BBY, where were the regulators?
Only one banker has been forced to serve prison time as a result of the global financial crisis.
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Jailing bankers for failing to uphold an ethical code is possible - it's simply a matter of enforcing current laws.
ASIC Chairman Greg Medcraft wants to be able to charge banks that enable damaging corporate culture.
Recent regulator outrage about the state of banking culture overlooks the fact regulators often look the other way.
Convicted Societe Generale rogue trader Jerome Kerviel - part of a bigger system turning a blind eye to industry conflicts.
As long as fund managers and traders work for the same companies, the problems plaguing the financial sector will continue.
PayPal is far more dominant in online payments in the US than Australia where traditional players have defended the market.
Venture capital money is starting to flow into Australian fintech, but success will largely be based on whether new players can innovate in areas where bank's aren't.