SYDNEY : Australia's government has appointed Nicholas Moore, who led Macquarie Group for a decade until 2018, to chair a new regulator review board to report on the effectiveness of the country's banking and corporate regulators.
At the time, the corporate regulator told the Royal Commission inquiry https://www.reuters.com/article/us-australia-banks-inquiry-idUSKCN1NR09T that funding cuts and an increasing mandate had hampered its ability to prevent wrongdoing in the financial sector, and slammed bank bosses for failing to properly respond to its inquiries.
The new three-person regulatory body will also include corporate lawyer Gina Cass-Gottlieb, and will supervise both the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority .
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