The high level of “concentration” within Australian financial services is not necessarily an impediment to competition, according to APRA.
APRA has said the recent damage to CBA’s reputation is “unhealthy for the bank, it’s unhealthy for the banking system and it’s unhealthy for the country”.
The government’s Banking Executive Accountability Regime will bring APRA’s powers in line with its international peers, says chairman Wayne Byres.
APRA has released the terms of reference for its inquiry into the Commonwealth Bank, along with the panel members selected to oversee the process.
ASIC could soon have the ability to prevent individuals from performing any function within financial services – including management roles.
New fixed income boss for Janus Henderson
CBA wealth management group exec to depart
MCP appoints independent chairman
The ‘most valuable player’ of investing
Where to from here for the banks?
How much risk are you taking?