All eyes will be on how ASIC and APRA respond to the findings of the banking royal commission. Will they be defensive about past mistakes, or move forward with tighter regulations?
Australian regulators face similar problems as their Australian counterparts in getting cryptocurrency platforms to regulate and prosecuting them when things go wrong.
Instead, we need to burn the entire system of financial regulation to the ground and replace it with something that supports investing the way it’s done today.
Is the financial system headed for another ‘Lehman moment’? Perhaps, but a bailout isn’t the solution. More capital is, something Trump should remember as he rewrites U.S. bank rules.
What seems to be a simple question of banks’ responsibilities is actually a major issue playing out where social security, banking, property, criminal and constitutional law intersect.
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.
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…