Banking royal commission calls for criminal charges

  • 📰 newscomauHQ
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 77%

Australia Headlines News

Australia Latest News,Australia Headlines

The Banking Royal Commission has asked the securities watchdog to consider criminal charges against a number of financial organisations swept up in fees-for-no-service scandals.

Source: Financial Digest (financialdigest.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Hah! And there's more.. Way above all this, but money seems to be more important than decency at that level. No one is going to jail. The families struggling to move forward will once again pay for this.

NAB has been singled out for their aggression, lack of ownership of serious misconduct issues in their appearance at this royal commission. In particular Ken Henry & Andrew Thorburn, their positions are now untenable. NAB Board must immediately sack these two executives.

Top dogs will be left untouched and the lower guys will be thrown under the bus. Will just be all handshakes and a slap on the wrist I bet.

Does it go to political links also?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Calls for criminal charges over banking inquiry revelationsNo one was expecting banking royal commission to uncover the appalling behaviour that it did and today it’s hoped the institutions will finally face the consequences, including criminal charges. Agree. We don't accept a world or one rule for them and a different rule for the rest. They deserve everything they get for their high crimes... MRobertsQLD bankers hold an open check book underpinned by securities to the value of a few % with this infinite line of credit it can use to the limit of the few securities held it has licence to create unlimited debt+all cash[in-come]is pure profit as long as their cheque account=in credit MRobertsQLD Nothing less would be anyother kick in the face for all Australian and prove once and for all, that there are TWO laws in this country. One for the rich & powerful and one for you and me!
Source: newscomauHQ - 🏆 9. / 77 Read more »

The banking royal commission final report at a glanceJustice Kenneth Hayne has unveiled 76 recommendations in his damning final report into the Australian financial services sector
Source: smh - 🏆 6. / 80 Read more »

The banking royal commission final report at a glanceHome loans, super, financial advice and more as we run down all the key recommendations from Kenneth Hayne's landmark inquiry Great. Now who's going to Jail ! I bet no one! And what is the ALP policy on this, are they willing to enact harsher laws?
Source: theage - 🏆 8. / 77 Read more »

Live: Government 'taking action' on all 76 banking royal commission recommendationsBREAKING: Banking royal commission has referred several institutions to ASIC for possible criminal charges, but declined to name names Why would they decline to name names? Because of the damage to the reputation to people who may be blameless.
Source: abcnews - 🏆 5. / 83 Read more »

Banking sector 'dishonest', scathing final royal commission report findsCommissioner Kenneth Hayne has recommended sweeping changes to the banking and finance sector after uncovering a litany of unethical activities. We all knew that but at least now it is out in the open. There's a surprise!
Source: SBSNews - 🏆 3. / 89 Read more »

A consumer's guide to the banking royal commission's final reportThe true reckoning for Australia’s financial institutions looms; the banking royal commission's final report is due on Friday. Here's a consumer's guide to it. sdanck Article should include: * LNP voted against the RC 26 times * When the BANKS THEMSELVES wrote to the LNP requesting a RC into THEMSELVES, LNP ACQUIESCED in a matter of hours * The Banking RC is a CLAYTON'S RC because LNP weekend the TOR at the bank's request. RCMkII I hope they release all submissions. Vote wth your feet and find better products in investments, super, loans, insurance, banking etc. Go not for profit and member owned
Source: theage - 🏆 8. / 77 Read more »

Banking royal commission report takes axe to sales culture in financeCommissioner Kenneth Hayne takes aim at the sales culture in banking and finance that relegates customers to second place, with the Government saying it is taking action on all 76 recommendations in his final report, some of which could make parts of the financial sector obsolete. 💥🔨 no shake great Now that the BanksRC is removing trail comms. Will we see banks bring interest rates closer in line with the cash rate? I highly doubt it. Big winners = banks. Big losers = brokers.
Source: abcnews - 🏆 5. / 83 Read more »

Live: Government 'taking action' on all 76 banking royal commission recommendationsBREAKING: Government “taking action” on all 76 banking royal commission recommendations, with mortgage brokers, financial planners and insurers facing big changes
Source: abcnews - 🏆 5. / 83 Read more »

Bank shareholders brace for brunt of royal commission fallout, but should we care?As bankers face their royal commission D-Day, should we spare a thought for the shareholders who have collectively seen tens of billions erased from the value of their investments, writes Andrew Robertson. In the good times, and in the bad times, who is it that always wins? The banks and their executives - definitely not the shareholders, who will have their share values plummet and reduced dividends. Shareholders should be demanding capped salaries for all executives. No. Bank shareholders are worse ba - - -rds than banks. Many mum & dad retirees receiving superannuation pensions will be burnt. Most super funds are heavily weighted in bank shares.
Source: abcnews - 🏆 5. / 83 Read more »

Australian banking sector 'dishonest', scathing final royal commission report findsIn one case, a young man with Downs syndrome was the target of aggressive sales tactics and sold a financial product that he did not want, need or understand bankingroyalcommission Lowest of low But when the Reserve Bank robs us all via inflation nobody bats an eyelid.
Source: SBSNews - 🏆 3. / 89 Read more »