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Showing 1051 - 1060 of 1691 results for "Royal"

A day of shame for Aussie banks: Bligh

HARRISON WORLEY  |  FRIDAY, 28 SEP 2018
Australian Banking Association chief executive Anna Bligh said the Royal Commission's interim report into misconduct in financial services marked a "day of shame" for Australia's banks. Holding a press conference after Commissioner Kenneth Hayne ...

FSU, FSC respond to interim report

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... better culture are the three major changes needed to clean up the sector. Self-regulation has failed in the sector with the Royal Commission demonstrating the industry is incapable of doing so, Angrisano said. "Our regulatory regime must be refocused ...

Regulatory inadequacy to blame: Hayne

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... regulatory response to previous financial advice scandals has enabled poor conduct to continue and exacerbate, according to the Royal Commission. In his interim report, Commissioner Hayne has said scandals dating back to the GFC can shed light on the ...

Interim report dotted with questions

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
... passing new law? That's one of many questions that dotted Commissioner Kenneth Hayne executive summary for the Banking Royal Commission's final report. Hayne boiled down his 643-word summary to two questions: Why did it happen? What can be done ...

Banking remuneration practices to blame for misconduct

MICHELLE BALTAZAR  |  FRIDAY, 28 SEP 2018
The industry's remuneration practices and policies played a major role in the banking misconduct uncovered by the Royal Commission Inquiry, the interim report found. Governance and risk management practices failed to prevent the misconduct where ...

Advice industry in hot water

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
Dishonesty and greed were the key themes that underscored the Royal Commission's hearing into financial advice, Commissioner Kenneth Hayne has said. Releasing his interim report today, Hayne has said of the misconduct within Australia's major ...

Hayne admonishes ASIC

KARREN VERGARA  |  FRIDAY, 28 SEP 2018
... broader findings in the report and will respond fully in its submission by 26 October 2018. "ASIC will continue to assist the Royal Commission and to work with the Government, the Parliament and other regulators to build a stronger legislative, enforcement ...

Labor proposes RC implementation task force

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
If Labor comes to power, it will set up a dedicated task force to implement the Royal Commission's final recommendations due next year. Responding to the interim report, acting opposition leader Tanya Plibersek told a media conference in Sydney ...

Royal Commission interim report released

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
... services companies from erring again would add an extra layer of complexity to an already complex regulatory regime, the Royal Commission has said in its interim report released this afternoon. "The law already requires entities to 'do all things necessary ...

Dishonest advice fees dent Westpac earnings

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... irresponsible lending and the BBSW case. The estimated $235 million does not include those incurred in responding to the Royal Commission. Westpac said the remediation programs will continue into 2019 due to ongoing investigations into wrongfully charged ...