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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 »
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 »
Banking royal commission expected to be hard on regulators | Sky News AustraliaWhistleblower Jeff Morris says he believes the banking royal commission will be hard on regulators, after a senate committee in 2014 found that Australian Securities and Investments Commission (ASIC) was a ‘weak and hesitant’ regulator. \n\nMr Morris says that it is clear from the hearings of the royal commission that ASIC and Australian Prudential Regulation Authority (APRA) have been ‘missing in action’ regulators. \n\nCommissioner Kenneth Hayne’s final report will be released on Monday, three days after it was delivered. \n\n\n\n\n\n\n\n\n\n MichaelRoddan Will any be Liberal MPs MichaelRoddan There’s a big line up for the CDPP. By the time the next election they might have had one case.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Banks brace for overhaul ahead of royal commission report | Sky News AustraliaAustralian banks are bracing for the biggest overhaul in generations, with the final report on the banking royal commission due to be released on Monday afternoon. \n\nRoyal Commissioner Kenneth Hayne is expected to recommend civil and criminal prosecutions for some companies and executives. \n\nDuring the course of the hearings, the royal commission reportedly uncovered theft, fraud and cases of unmitigated greed. \n\n\n\n\n\n\n\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Banks brace for major overhaul ahead of commission report | Sky News AustraliaMany Australian bankers and business are bracing for the final report of the Banking Royal Commission to be released on Monday afternoon, which could have criminal charges recommended against them.\n\nThe sector is bracing for a scathing final report from royal commissioner Kenneth Hayne QC, which will be released after the share market has closed on Monday.\n\nThe report will focus on ensuring money is lent to consumers responsibly, customer remediation, regulation and the remuneration of everyone from senior bank executives to branch staff, brokers and financial advisers.\n\n\n\n\n\n\n Commissioner and SC’s did a Terrific Job! RBA use interest rates to manage inflation & economy. RBA moves interest rates in the national interest to either stimulate or reduce economic activity. BUT when banks HIJACK those interest rate movements for easy profit it must be treated as a criminal offence. billshortenmp
Source: SkyNewsAust - 🏆 7. / 78 Read more »
SA cabinet to consider findings of Murray-Darling royal commission | Sky News AustraliaThe South Australian cabinet will consider the findings of a royal commission into the Murray-Darling Basin on Thursday.\n\nIt comes on the same day the chairman of the Murray-Darling Basin Authority, Neil Andrew, finishes up his term at the helm of the agency.\n\n\n\n\n\n\n\n Gee, let me guess. Notenough water. Irrigators took 3yrs lot in one go. Queensland won’t open dams. No govt dept is pro active, ie sitting on their bums. No one cares until tv cameras appear.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
2018 was a 'poor' year for newly-listed companies on the ASXMost companies which listed on the Australian share market in 2018 performed poorly and the outlook for this year is looking downbeat, according to a report by HLB Mann Judd. 2018 was a poor year for most companies on the ASX, not just the newly listed!
Source: abcnews - 🏆 5. / 83 Read more »
NAB bosses 'cop scathing criticism' in banking royal commission | Sky News AustraliaThe banking royal commission has given 76 recommendations in total that cover banks, superannuation, mortgage brokers and financial advisors.\n\nThe final report gives 22 referrals of 19 banks and other financial institutions to Australian Securities and Investments Commission and Australian Prudential Regulation Authority, which may lead to criminal prosecutions.\n\nSky News host David Speers says the report does not ‘name names’ of who should be criminally prosecuted but the NAB CEO Andrew Thorburn and chair Dr Ken Henry ‘copped some scathing criticism’, saying they were the most criticised individually.\n\nBanking royal commissioner Kenneth Hayne QC says he not persuaded the NAB is willing to accept responsibility for deciding the right thing to do in the future and requiring their staff to act accordingly. \n\n As a former employee that doesn’t surprise me at all. Ken Henry! The Liberal finance God Surely not Labor’s fiscal guru and godlike pin up boy Ken Henry 😱 Media say nothing
Source: SkyNewsAust - 🏆 7. / 78 Read more »
ASX expected to rise, with banking 'upheaval' unlikelyAustralian shares are expected to push higher in early trade now that the banking royal commissions' final report has been digested by the market.
Source: abcnews - 🏆 5. / 83 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 »
EXPLAINER: What to expect from the banking royal commission report | Sky News AustraliaThere is no doubt that the royal commission has already changed the way banks and financial institutions operate in Australia, but recommendations in Kenneth Hayne's final report could force even greater change in the sector. \n\nYour Money Chief Business Reporter Leo Shanahan explains what to look out for when the report is released on Monday.\n\n\n\n\n\n YourMoneyAus _leo_s Control of Superannuation Funds to transfer to the Govt. We can all start feeling more confident about our future. YourMoneyAus _leo_s Look out for phrases such as ‘regulatory capture’ & ‘soft capture’ Regulatory bodies should be very worried especially ASIC & chairman James Shipton Financial institutions are only as good as the regulators who were all asleep at the wheel soaking up tax$ for weak oversight
Source: SkyNewsAust - 🏆 7. / 78 Read more »