Westacott is on the frontline in what has become the toughest of gigs, given the shocking disclosures, and subsequent fallout, in the financial sector.
Former AMP CEO Craig Meller (left) and chairwoman Catherine Brenner.
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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.
When did ASIC’s Greg Medcraft learn about the alleged money laundering at the Commonwealth Bank?
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The new banking regulations undermine the existing system, confusing regulators and achieving very little.
There are signs our frothy housing market, combined with rising interest rates, could have serious consequences for our economy.
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Fully half of Westpac’s loan book consists of interest-only loans, so why are the banks not more concerned about what could happen next?
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.
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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.
In the case of CommInsure, the treatment of the Chief Medical Officer, Benjamin Koh, seemed designed to send a message to other bank staff – keep your head down, or else!
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Without clear support for whistleblowers in the terms of reference for the inquiry into CBA’s corporate governance, the conclusions will inevitably be tainted.
APRA announced it will open its new season with an inquiry into the Commonwealth Bank of Australia. But the opening of this new show raises some questions for the producers.
APRA chairman Wayne Byres says the inquiry will provide the CBA with change recommendations.
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The APRA inquiry puts the regulator in the tricky position of trying to be seen to be tough on bank scandals but juggling its close relationship with the government and the CBA.
Unlike shareholders, super fund members won’t have the same powers at AGMs to hold executives to account.
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Many of us barely glance at our own superannuation account balances, so it’s reasonable to predict that only a tiny fraction are likely to go to a super fund annual meeting.
Pay packets rose just 0.5% in the first quarter.
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What critics of the plan to use superannuation for housing miss is that Australia’s super system already channels a significant proportion of retirement savings into housing.
APRA chairman Wayne Byres is leading a crackdown on interest-only loans, but it may not be enough to cool some parts of the housing market.
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