The creation of a specialised ACCC unit focused solely on banking competition would be “unnecessary” given the plethora of inquiries into the topic, says Westpac chief executive Brian Hartzer.
ASIC will put a particular emphasis on the enforcement activities of its Wealth Management Project in the coming six months.
ANZ chief executive Shayne Elliott has given his in principle support for the public airing of ASIC breach reports and the naming of responsible executives.
NAB chief executive Andrew Thorburn has downplayed the need for a public breach reporting regime in an appearance before a parliamentary inquiry.
Bank capital requirements will be APRA’s main policy focus for 2017, according to chairman Wayne Byres.
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