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Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry


Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry
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Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry


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.




Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry


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.



Interim Report


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.




A Wunch Of Bankers


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.



Final Report


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.



Final Report


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.



Interim Report Of The Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry


Interim Report Of The Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry
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Author : Attorney 's Department
language : en
Publisher:
Release Date : 2018-08

Interim Report Of The Royal Commission Into Misconduct In The Banking Superannuation And Financial Services Industry written by Attorney 's Department and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08 with categories.




Final Report


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.



Final Report


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.



Causes And Solutions For Misconduct In The Financial Services Industry


Causes And Solutions For Misconduct In The Financial Services Industry
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Author : Shann Turnbull
language : en
Publisher:
Release Date : 2019

Causes And Solutions For Misconduct In The Financial Services Industry written by Shann Turnbull and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.


This paper reviews the efficacy of the Australian government's 2018 initiatives to counter widespread misconduct identified by its Royal Commission into misconduct in the banking, superannuation, insurance, and financial services industry. As regulators exist to protect stakeholders, there is a need for: (i) regulators to become accountable to them and (ii) the ability of stakeholders to appoint representative bodies to direct and control qualified stakeholder advocates who could also become co-regulators. The role, size, cost and intrusiveness of regulators could be reduced. Regulators could require firms to: (a) remove current unethical conflicts inherent in Anglophone corporate constitutions; (b) establish constructive management of other conflicts; (c) provide independent voice to stakeholders for improving operations, reporting misconduct, harms, risks and/or unsatisfactory service. These changes could provide the means to achieve the outcomes specified in 2018 by the largest global fund manager who has identified the need for “A new model of corporate governance”. The appointment of various classes of stakeholder advocates for the different stakeholder constituencies of each firm offers the prospect of competitive advantages with continuous, more economic, comprehensive, nuanced and reliable control of mismanagement, misconduct and malfeasance than the practice of embedding regulators within a firm.