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Banking royal commission

February

Leon Zwier in his Melbourne office. His framed mementos are an icebreaker, he says.

Mr Fix-It: The unusual legal practice of Leon Zwier

For decades, Zwier has been the lawyer of choice for Australia’s most powerful moguls. But lately, he’s taken on a very different client.

September 2024

ANZ chief executive Shayne Elliott and APRA chairman John Lonsdale.

APRA repeatedly warned ANZ on risk and culture failings, letters show

Confidential correspondence shows the regulator told executives almost two years ago that it was “not yet apparent” who would deliver a risk overhaul.

July 2024

It’s no surprise that a non-market-facing government bureaucracy has failed to turbo-charge competition.

Open banking offers a salutary tale

The lesson is that governments trying to regulate their way to a greater bank competition can have anti-competitive effects.

May 2024

States should give the power to regulate partnerships of economic significance to the federal government.

Consulting firm fixes are impractical and an overreach

More importantly, they are not necessary to correct a deficiency in the regulation of delinquent behaviour, says the former ACCC chairman.

NAB chief executive Andrew Irvine is promising strategy tweaks rather than pivots.

New NAB boss Andrew Irvine on trust, banker pay and client weddings

Andrew Irvine has inherited a solid strategy, but five weeks into the job he’s not afraid to weigh in on tough issues such as banker bonuses and regulatory creep.

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April 2024

Rowena Orr is best known for her role in the Hayne royal commission.

Banking royal commission star Rowena Orr joins the bench

Rowena Orr, who came to prominence during the Hayne royal commission, has been appointed to the Victorian Court of Appeal.

In his last public appearance as CEO of National Australia Bank, Ross McEwan said the government needed to lift its building policies to counter the surge in immigration.

We should be glad banks are speaking up

Australia’s big banks are at the coalface of the economy. Governments should be listening when they highlight the need for change.

March 2024

With the Hayne royal commission fading, the country’s largest banks are happy to once again intervene in matters of public policy.

Five years after the royal commission, big banks have their mojo back

But the newfound assertiveness isn’t simply due to the fading of past humiliations. They are increasingly conscious their large size is now a huge asset.

David Murray at the Banking Summit in 2015.

From scandals to Team Australia: a decade of the AFR Banking Summit

The Summit is in its 10th year. We’ve had a courtside seat to the drama as a tarnished sector recovered during COVID.

February 2024

Commonwealth Bank chief Matt Comyn says his bank is at the heart of the economy. But the bank is losing market share in home loans because of its reluctance to write them at below the cost of capital.

There’s a new monetary order – will it be cruel or kind to our banks?

Much has changed since the global financial crisis and after a decade of low interest rates. Major lenders won’t be able to rely on what worked in the past.

Kenneth Hayne’s uncomfortable gaze lingers for the financial services sector.

Did Hayne’s shock treatment swing the pendulum too far?

The Hayne royal commission shocked corporate Australia and brought big shifts to banking and wealth. But five years on, unintended consequences remain.

Opposition Leader Peter Dutton and Prime Minister Anthony Albanese.

Dutton backs tax cuts | Banking’s property pain | Zuckerberg’s a market hero

Read everything that’s happened in the news so far today.

December 2023

CBA’s Matt Comyn loses his right-hand man, the meticulous David Cohen

Over 15 years at the bank, David Cohen has seen it all. On his retirement, he provides a potted history of CBA’s numerous troubles and its transformation.

September 2023

The Commonwealth Bank has admitted senior HR staff were indifferent and reckless to the underpayments.

CBA should suffer highest penalty for $16m underpayment, court told

The Fair Work Ombudsman says maximum fines for the Commonwealth Bank ‘knowingly’ underpaying thousands of staff is necessary to deter other well-resourced employers.

August 2023

Afterpay is among company’s pushing back on contributing to financial counselling.

Telcos, non-bank lenders spurn demands to fund financial counsellors

Banks, energy retailers, insurers, bookmakers and Telstra have agreed to government requests for industry funding to support indebted customers, but others are holding out.

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July 2023

CBA’s former wealth arm settles class action for $100m

If approved by the court, the Colonial First State settlement will be the highest ever obtained by plaintiff law firm Slater and Gordon in a class action.

March 2023

CALI CEO Christine Cupitt wants life insurance to be part of Australia’s social safety net.

Meet the former bank lobbyist giving life insurance a makeover

The inaugural chief executive of the Council of Australian Life Insurers will draw on the lessons learnt advising banks through the Hayne royal commission.

February 2023

Jayaweera was charged following an investigation by the Australian Securities and Investments Commission (ASIC).

ASIC was almost broken up after the Hayne royal commission

The Morrison government came close to breaking up the corporate regulator under the former chairman James Shipton, after Treasury investigated the idea when it was raised in the final recommendations of the Hayne royal commission.

House of Representatives economics committee chairman Daniel Mulino.

Bank and competition inquiries to probe market power

Bank chief executives will be called before parliament to account for the interest rates on deposits and loans, and how they are treating vulnerable customers.

Assistant Treasurer Stephen Jones.

Labor to ‘stress-test’ plan to overhaul financial advice

The Albanese government will seek a second opinion on Allens lawyer Michelle Levy’s plan to expand the number of low- and middle-income workers receiving financial advice by overhauling a decade of regulation.

Original URL: https://www.afr.com/topic/banking-royal-commission-hql