Lift lid on sheltered workshop
The finance sector is more cartel than competition – that’s what must change.
Bank Inquiry
AMP ignored prophet for profits
Rewarding executives for chasing short-term profits at the expense of long-term stability was dangerous, an AMP executive warned.
Admit it, you got it wrong
And it would be sheer political madness to take the company tax cuts to the next election.
‘System based on morality tax?’
Kelly O’Dwyer doesn’t agree banks should be quarantined from getting the government’s planned business tax cut as opposed by Derryn Hinch.
‘From another planet’
Financial Services Minister’s fiery TV defence of the government over the bank inquiry shows it has learned nothing, Labor says.
‘Drain the swamp’: Fury builds
The forced resignation of AMP’s CEO appears to have fallen short of expectations as company is warned of a “death spiral”.
Howard in no rush to judge banks
John Howard has declared it too early to tell whether the Hayne royal commission will turn out to be worthwhile.
‘Who is fooling who here?’
In the night of the long knives at AMP, careers were ended, reputations trashed and wall-to-wall reviews set up.
Conflicted AMP faces oblivion
For much of its 169 years, the AMP has been the most trusted financial institution. This week that trust was shattered.
AMP’s bloody power shifts
When Catherine Brenner accepted the role as chairman of AMP, it was the pinnacle of a glossy career. But she should’ve known.
Customers come first, don’t they?
So are we still to believe Australia has the best regulated banking system in the world?
We were wrong: Big Four chiefs
Wrongdoing uncovered by the royal commission forces bank heads to admit their opposition to the inquiry was a mistake.
Time to ban percentage fees
Percentage fees are the dirty secret at the heart of the corruption of financial services. Ban them.
Failed ANZ adviser kept working
ANZ subsidiary RI Advice allowed an adviser who failed its audits to continue giving advice to clients, the inquiry heard.
Brenner has to go … now
AMP chairwoman Catherine Brenner was caught red-handed in the middle of the cover-up.
14 years ‘to break even on fees’
More horror stories from bank inquiry as ANZ exec says the “right advice was to give no advice” in case of widowed pensioner.
‘We just took too long to act’
An ANZ exec says it took too long to compensate customers dudded by a planner poached before new laws came into effect.
Westpac failed to flag concerns
Westpac did not pass on “serious concerns” about a financial planner to his subsequent employer, bank inquiry hears.
‘Bank boards responsible too’
Treasurer Scott Morrison has put company boards on notice that they are ultimately responsible for corporate culture.
Brenner’s head next to roll
AMP chair Catherine Brenner moved to save herself by fast forwarding Craig Meller’s exit, but her position is untenable.
Jail ‘unlikely’ for AMP execs
Senior lawyers have played down the prospect of AMP executives or directors going to jail.
‘Cash before customers’
Banks delayed their crackdown on dodgy practices in favour of more lucrative activities, an inquiry has heard.
Banks face $210m fines
Major banks could face maximum fines of $210m or be stripped of 10 per cent of their annual turnover for serious misconduct.
A role model for young ladies?
It might pay you to take a leaf out of AMP chairman Catherine Brenner’s personal playbook of wealth management.
‘I never thought I’d be lied to’
Nurse Jacqueline McDowall paid tens of thousands to a Westpac planner for help on her retirement dream. His advice cost her dearly.
Original URL: https://www.theaustralian.com.au/topics/bank-inquiry/page/22