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.
Lukas Coch/AAP
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
The appointment of administrators too often leads to the demise of a company anyway. Salvaging rather than saving might be best.
Investors need to know if there is impairment of assets, but research shows firms don’t always disclose all the information they should about this.
Dean Lewins/AAP
Managers of well-known Australian companies are misleading investors by taking years to recognise asset impairments and not disclosing that information in financial reporting.
Research shows independent directors required by the ASX are not acting in shareholders best interest.
Mick Tsikas/AAP
Research shows that having experienced shareholders that use swing trading on boards is better for business, than the independent directors required by the ASX.
Various scandals have forced the major parties in this election campaign to tackle policy on business and finance regulation.
Joel Carrett/AAP
Business Briefing: ASIC tries to prevent fintech startups from becoming scammers
ASIC is teaming up with its Singaporean counterpart to encourage more fintech startups and dip its toe into the fast moving waters of the digital economy.
Stockbroker Oliver Curtis leaves at lunchtime with his wife Roxy Jacenko at the Supreme Court of New South Wales in Sydney.
David Moir/AAP
With all the weight of evidence stacked against the banks in the case of BBSW benchmark, surely now is the time for the government to enforce regulation.
It may be the effect of the election but the regulation of banking in Australia appears to be descending into farce. Just last week, maybe in anticipation of adverse events to come, the Australian Financial…
Senator Sam Dastyari, who has been involved in scrutinising the banks, and former Commonwealth Bank employee turned whistleblower Jeff Morris.
Stefan Postles/AAP
Whistleblowers need better incentives, compensation and protection under Australian law, especially those in the private and not-for-profit sectors.
On Thursday, Bill Shorten was in Western Sydney promising a limited night ‘no-fly zone’ when the planned Badgerys Creek airport comes into operation.
Dan Himbrechts/AAP
When asked this week whether in retrospect she regretted the government trying to undo Labor’s consumer protections, Assistant Treasurer Kelly O'Dwyer denied it had happened.
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
In announcing new money for the Australian Securities and Investments Commission, the Treasurer and the Minister responsible Kelly O’Dwyer executed a synchronised back flip with tuck, declaring that “The…
Scott Morrison told a joint news conference with Assistant Treasurer Kelly O'Dwyer that the banks would pay an additional $121 million to increase the resources of ASIC.
Lukas Coch/AAP
Scott Morrison has warned the banks not to pass on to customers the $120 million user-pays charge imposed on them to finance a strengthened Australian Securities and Investments Commission.
Was Scott Morrison right about the powers of ASIC?
AAP/Richard Wainwright
After Labor proposed a royal commission into the banking industry, Treasurer Scott Morrison said the Australian Securities and Investments Commission (ASIC) has all the powers of a royal commission and more. Is that right?