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Regulatory

ANZ hid reasons for executive pay cuts

KANIKA SOOD  |  THURSDAY, 29 NOV 2018
ANZ chief executive Shayne Elliott admitted the bank did not disclose to its shareholders or staff that three of its senior executives had their variable pay held back in FY18 on account of compliance issues.

ANZ lambasted for breach reporting delays

KARREN VERGARA  |  WEDNESDAY, 28 NOV 2018
ANZ is the slowest and an "outlier" among the major banks to report significant breaches, the Royal Commission heard this morning.

Should banks fund customer litigation?

HARRISON WORLEY  |  TUESDAY, 27 NOV 2018
NAB chair Ken Henry openly asked the Royal Commission whether the bank should fund customer litigation against itself.

Overhaul executive remuneration: Poll

KARREN VERGARA  |  MONDAY, 26 NOV 2018
Financial Standard readers have decried how banking and financial services executives are remunerated following insight into how CBA remunerated its executives at the financial services Royal Commission.

Vertical integration not to blame

HARRISON WORLEY  |  MONDAY, 26 NOV 2018
Australia's largest financial services institutions all agree - the use of vertically integrated business models in the wealth management arms of banks was not the reason for the industry misconduct exposed in the Royal Commission.

BEAR should be expanded, ASIC included: Shipton

JAMIE WILLIAMSON  |  FRIDAY, 23 NOV 2018
ASIC chair James Shipton said he is in favour of applying the Banking Executive Accountability Regime to senior ASIC staff while being quizzed on the regulator's current governance.

Royal Commission on social media: Executives grilled

HARRISON WORLEY  |  FRIDAY, 23 NOV 2018
As the Royal Commission turned its attention financial services executives this week, commentators took to twitter to have their say.

Royal Commission: ASIC rethinks negotiation tactics

KARREN VERGARA  |  FRIDAY, 23 NOV 2018
ASIC chair James Shipton has admitted the corporate regulator was too reliant on negotiating resolutions with financial services firms and flagged litigation could take precedence, the Royal Commission heard.

Misconduct matters, but stability key for Frydenberg

HARRISON WORLEY  |  FRIDAY, 23 NOV 2018
Treasurer Josh Frydenberg said the Government eliminating misconduct was important, but the Government has other considerations to bear when implementing the Royal Commission's final recommendations.

Court fines stockbroker $350k

KARREN VERGARA  |  THURSDAY, 22 NOV 2018
The Federal Court has ordered a stockbroking firm to pay a $350,000 penalty for failing to comply with Market Integrity Rules.