Banking And Misconduct
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A Wunch Of Bankers
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Author : Daniel Ziffer
language : en
Publisher: Scribe Publications
Release Date : 2019-07-02
A Wunch Of Bankers written by Daniel Ziffer and has been published by Scribe Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-02 with Business & Economics categories.
It was a complicated, galling, and gasp-inducing year at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. It wasn’t just the long list of scandals exposed to a horrified nation — charging fees to dead people, ignoring blatant conflicts of interest, and taking $1 billion from customers in fees that banks were never entitled to. What made it so fascinating, so heart-breaking, and so enraging was the procession of faces through the witness box, and the team of counsel gazing into the dark heart of banking. Tearful victims, blank-faced executives, hapless regulators, and a couple of utter charlatans all had their day in court, watched by an audience of millions, and revealing — in their stories — the material to justify re-shaping the multi-trillion dollar financial-services industry that forms a pillar of Australian life. A Wunch of Bankers covers not just the big shocks, but the small moments — lost in the flurry of daily reporting — that reveal how companies have used the law, limp enforcement, and basic human behaviour to take advantage of customers. Is there a phrase that allows life-insurance spruikers in call centres to terrify you about your impending death — and the grief-stricken ruins of an estate you’ll leave for your bereaved family — while still being legal? Yes, there is. Was there a meeting in which a bank’s executives ignored a warning of ‘Extreme’ from its chief risk officer, to embark on a dodgy scheme that accrued $3.6 billion in funds? There was. In A Wunch of Bankers, the World’s Oldest Debuting TV Reporter brings out the colour and grit of the royal commission’s proceedings, and explores broader issues raised by the testimony. A compelling mixture of analysis, reportage, and observation, it is a revelatory work.
Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry
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Author : Australia. Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
language : en
Publisher:
Release Date : 2019
Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry written by Australia. Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Banking law categories.
The Royal Commission has shone a spotlight on the extent of wrongdoing and misconduct across the financial system. It has identified entities putting profits ahead of people and rewarding misconduct, a lack of accountability for those who broke the law, and regulators who need to be more effective in denouncing and punishing misconduct. The Royal Commission has also made a number of recommendations to Australian Prudential Regulation Authority (APRA) to bolster its focus and supervision of culture and governance. The report also set out 76 recommendations to clean up the industry. One was for a new bank-funded compensation scheme for victims of banking misconduct. Other measures targeted the intermediaries that sold insurance, pensions and mortgages to befuddled Australians.
Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry
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Author : Sr. Attorney-'s Department, Sr.
language : en
Publisher:
Release Date : 2018-10-30
Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry written by Sr. Attorney-'s Department, Sr. and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-30 with categories.
Final Report
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Author : Australia. Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
language : en
Publisher:
Release Date : 2019
Final Report written by Australia. Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Banking law categories.
"The Royal Commission has shone a spotlight on the extent of wrongdoing and misconduct across the financial system. It has identified entities putting profits ahead of people and rewarding misconduct, a lack of accountability for those who broke the law, and regulators who need to be more effective in denouncing and punishing misconduct. The Royal Commission has also made a number of recommendations to Australian Prudential Regulation Authority (APRA) to bolster its focus and supervision of culture and governance. The report also set out 76 recommendations to clean up the industry. One was for a new bank-funded compensation scheme for victims of banking misconduct. Other measures targeted the intermediaries that sold insurance, pensions and mortgages to befuddled Australians."--Executive summary."--Abstract.
Banking On Failure
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Author : Richard S. Collier
language : en
Publisher: Oxford University Press, USA
Release Date : 2020-06-04
Banking On Failure written by Richard S. Collier and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-04 with Business & Economics categories.
This book explains why and how banks game the system. It accounts for why banks are so often involved in cases of misconduct, and why those cases often involve the exploitation of tax systems.
Politically Exposed Persons
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Author : Theodore S. Greenberg
language : en
Publisher: World Bank Publications
Release Date : 2010-04-19
Politically Exposed Persons written by Theodore S. Greenberg and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-19 with Business & Economics categories.
In recent years, revelations of grand corruption and the plunder of state assets have led to greater scrutiny of financial relationships with politically exposed persons (PEPs) senior government officials and their family members and close associates. Notwithstanding the efforts by many financial institutions and regulatory authorities to prevent corrupt PEPs from entering and using the financial system to launder the proceeds of corruption, there has been an overall failure in the effective implementation of international standards on PEPs. Implementation of an effective PEP regime is a critical component in the prevention and detection of transfers of proceeds of crime and, therefore, ultimately in the process of recovering them. 'Politically Exposed Persons: Preventive Measures for the Banking Sector' is designed to help banks and regulatory authorities address the risks posed by PEPs and prevent corrupt PEPs from using domestic and international financial systems to launder the proceeds of corruption. The book provides recommendations and good practices aimed at improving compliance with international standards and increasing supervisory effectiveness. It is an important tool for individuals, governments, financial and private sector companies, and international organizations involved in developing and implementing standards aimed at fighting corruption and money laundering, and trying to recover stolen assets and the proceeds of corruption.
Interim Report
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Author : Australia. Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
language : en
Publisher:
Release Date : 2018
Interim Report written by Australia. Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Final Report
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Author : Australia. Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
language : en
Publisher:
Release Date : 2019
Final Report written by Australia. Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Banking law categories.
"The Royal Commission has shone a spotlight on the extent of wrongdoing and misconduct across the financial system. It has identified entities putting profits ahead of people and rewarding misconduct, a lack of accountability for those who broke the law, and regulators who need to be more effective in denouncing and punishing misconduct. The Royal Commission has also made a number of recommendations to Australian Prudential Regulation Authority (APRA) to bolster its focus and supervision of culture and governance. The report also set out 76 recommendations to clean up the industry. One was for a new bank-funded compensation scheme for victims of banking misconduct. Other measures targeted the intermediaries that sold insurance, pensions and mortgages to befuddled Australians."--Executive summary."--Abstract.
Fines For Misconduct In The Banking Sector
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Author :
language : en
Publisher:
Release Date : 2017
Fines For Misconduct In The Banking Sector written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Misconduct (conduct) risk may be defined as the risk of losses to an institution arising from an inappropriate supply of financial services, including cases of willful or negligent misconduct. Based on EBA data, it generates the vast majority of operational risks expected by Europe’s top banks (€71bn according to the 2016 stress test). According to public-domain figures, misconduct costs have been rising strongly for large European banks in 2011-2015, although no European lender matches the costs experienced by large US banks. The distribution of losses looks highly skewed, with a few exceptionally high costs. More than 55% originates from traditional areas like commercial and retail banking. There are signs that conduct costs (per unit of total assets) have been stronger for small and mid-sized institutions, and for banks that ended up in resolution or requiring some other form of extraordinary support. Conduct risk is addressed by a number of EU-wide regulations and supervisory standards. Still, only half of the EU’s competent authorities include conduct risk in their supervisory examination programmes. To discipline conduct risk ex post sanctions play a useful role, but should be complemented by ex ante tools like improving the quality of bank governance, preventing remuneration schemes that encourage inappropriate practices, encouraging whistle-blowing and improving the clarity of regulations to remove grey areas
Fines For Misconduct In The Banking Sector What Is The Situation In The Eu
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Author : Martin R. Götz
language : en
Publisher:
Release Date : 2017
Fines For Misconduct In The Banking Sector What Is The Situation In The Eu written by Martin R. Götz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Bank regulators have the discretion to discipline banks by executing enforcement actions to ensure that banks correct deficiencies regarding safe and sound banking principles. We highlight the trade-offs regarding the execution of enforcement actions for financial stability. Following this we provide an overview of the differences in the legal framework governing supervisors' execution of enforcement actions in the Banking Union and the United States. After discussing work on the effect of enforcement action on bank behaviour and the real economy, we present data on the evolution of enforcement actions and monetary penalties by U.S. regulators. We conclude by noting the importance of supervisors to levy efficient monetary penalties and stressing that a division of competences among different regulators should not lead to a loss of efficiency regarding the execution of enforcement actions.