Mercedes

BankingRC


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Accused ANZ bankers are more Keystone Cops than criminals

07 June 2018 | David Fickling

What's worse than calling a banker dishonest? Calling them stupid. That may be the best defence of the former Citigroup, Deutsche Bank and ANZ Bank executives who've been charged with criminal cartel offences over a 2015 placement of $2.5 billion of ANZ shares.


'A very unusual case': Ombudsman appears before royal commission

27 May 2018 | The Age

Systemic problems with the approach taken by the Financial Ombudsman Service (FOS) when dealing with disputes were revealed before the royal commission on Monday.

Philip Field, lead ombudsman for banking and finance at the FOS told the commission the body has made mistakes.

The commission heard of a system which appears to prioritise banks over applicants.

The FOS is funded by the banks and while banks are very familiar with the FOS' processes, most applicants are not.

Mr Field told the commission the majority of applicants don't have a lawyer and have very limited resources.


Banking on a culture of reform

10 May 2018 | Kelly Hughes

hindspeechThe bell can’t be unrung for the Australian banking and financial institutions. The revelations from the Banking Royal Commission detail the horrors of a deeply entrenched and systemic culture of dishonesty within the country’s biggest financial sector.

 


Knee-deep in blood - AMP feeds directors to baying crowd

08 May 2018 | Adele Ferguson

AMP woeFinancial giant AMP was wading knee-deep in blood on Tuesday as three more directors fell on their swords in the wake of damning revelations at the royal commission, including repeatedly lying to the regulator, deliberately ripping off customers and doctoring an “independent report”.


AMP chair Catherine Brenner resigns

30 April 2018 | The Guardian

The chair of financial services giant AMP, Catherine Brenner, has resigned from her $660,00-a-year role, the latest casualty from the unfolding scandals uncovered by the banking royal commission.


Banking royal commission: False witnessing at NAB a 'common practice'

23 April 2018 | James Frost

The actions of a rogue NAB financial planner who forged the initials of customers on a superannuation document set off a chain of events that uncovered an entrenched practice of false witnessing of documents by hundreds of NAB staff, the Hayne Royal Commission has heard.


Banks, AMP sitting on powder keg of compensation claims

23 April 2018 | Karen Maley

The country's major financial firms are at risk of being deluged by compensation claims, as their customers realise that the shoddy and conflicted financial advice that has been provided to them could entitle them to substantial financial remediation.

 


AMP board hit with new ultimatum

23 April 2018 | Clancy Yeates

AMP AMP's board has been warned it must take stronger action over the shock misconduct in its financial planning arm, or it faces a showdown with some of the country's largest superannuation funds at next month's annual general meeting.


The Running of the Banks

23 April 2018 | David Rowe


'Who needs hindsight when you have hindspeech?'

23 April 2018 | David Rowe

'Who needs hindsight when you have hindspeech?'


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Mercedes

 

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