Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 871 - 880 of 1582 results for "Culture"

FSU, FSC respond to interim report

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... industry. FSU national secretary Julia Angrisano said the union agrees wholeheartedly with Treasurer Josh Frydenberg that culture and conduct of Australia's financial institutions has fallen below the expectations and standards of the community. ...

Regulatory inadequacy to blame: Hayne

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... In his interim report, Commissioner Hayne has said scandals dating back to the GFC can shed light on the conflicts and culture in the financial advice industry today. Hayne said that because regulatory responses wrongfully focused on the remediation ...

Frydenberg slams financial sector greed

KARREN VERGARA  |  FRIDAY, 28 SEP 2018
... honesty. Frydenberg told a press conference that too often, financial institutions have focused on selling products and the culture of greed was embedded in remuneration practices and policies, coupled with deficiencies in governance and risk management. ...

Banking remuneration practices to blame for misconduct

MICHELLE BALTAZAR  |  FRIDAY, 28 SEP 2018
... inconsistent with the interests of customers and should be changed. The Sedgwick Review noted that the sales-oriented culture is deeply ingrained and any changes in remuneration practices need to go with drastic changes in culture, philosophy and leadership. ...

Advice industry in hot water

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
... profits the adviser. The prevalence of misconduct and its persistence over the years requires consideration of the issues of culture, regulation and structure, he said. On the topic of vertical integration, Hayne said such a model promises the virtue ...

Hayne admonishes ASIC

KARREN VERGARA  |  FRIDAY, 28 SEP 2018
... can and will make the necessary changes. However, he questioned the size of ASIC's remit, the "deeply entrenched" culture of negotiating outcome, and if its enforcement policies and practices are congruent with the needs of the economy. On his last ...

Labor proposes RC implementation task force

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
... acting opposition leader Tanya Plibersek told a media conference in Sydney that the task force will work to reform the culture of "profit over people" in the financial services sector. "The task force will be located within the treasury and will work ...

ASIC slams unacceptable reporting breaches

KARREN VERGARA  |  WEDNESDAY, 26 SEP 2018
... financial institutions' inadequate systems, procedures and governance processes, as well as a lack of a consumer-orientated culture of escalation. ASIC therefore has to address two areas. The first is the length of time to identify and investigate potential ...

Frydenberg appoints second APRA deputy chair

HARRISON WORLEY  |  TUESDAY, 18 SEP 2018
Treasurer Josh Frydenberg appointed a Treasury official as the second deputy chair at Australia's prudential regulator. John Lonsdale links with APRA as a full-time member and second deputy chair for the next five years, with a remit to strengthen the ...

Philanthropic forces shift asset allocation

DARREN SNYDER  |  THURSDAY, 6 SEP 2018
... have increased their philanthropic market share and their causes include a more "democratic spread" to include arts and culture, education and research. "Private ancillary funds started in 2001, and to-date there's 1700 of them with assets of about $10 ...