Culture and social licence '[G]etting culture and conduct right is not a supervisory requirement. It is necessary for banks’ and banking’s economic and social sustainability'1 Culture and misconduct The role of corporate culture assumes ...

The BEAR It comes as no surprise that one of the key ways in which the Final Report recommends the need for greater personal accountability be addressed is by the expansion of the BEAR. Specifically, the Commissioner has recommended that: ...

Are there implications over a year on? Yes. The broader lessons on culture are becoming clearer, and we have seen an increasing trend towards its regulatory supervision, particularly with APRA regulated entities. In February 2019, the 4th ...

In the Final Report, the Commissioner has found that, for the most part, whilst the legislative tools necessary to protect borrowers are already available, there have been significant shortcomings in ...

Commissioner Hayne's recommendations may initially seem somewhat modest – they do not undo vertical integration, impose limits on executive remuneration or ban bonuses and they do not recommend that directors prefer the interests of their customers. But, while it is true that the recommendations are not radical, there is much in the report that will mean some real changes for financial services companies, their Boards and their executives, as well as for their regulators and advisers. ...

Better governance for all: it's not just lessons for the banks A rapidly shifting focus to non-financial risk An oncoming storm in an already high-risk environment 'Detected, denounced and justly punished' - misconduct now squarely in the ...

In Touch looks at what's been happening in Competition this month and what it means for your business ...

Throughout the Royal Commission, Commissioner Hayne grappled with the difficulties of striking an appropriate balance between ensuring that small and medium enterprises (SMEs) have access to credit, and imposing standards on the provision of that credit to protect SME borrowers and third-party guara ...

In the Final Report, the Commissioner has found that, for the most part, whilst the legislative tools necessary to protect borrowers are already available, there have been significant shortcomings in their application and enforcement. ...

In her summary my colleague, Michelle Levy, said her initial reaction was that the recommendations in the Final Report were modest but, on a second reading, some would set a cat among the pigeons. ...