Compliance
Boards need to be engaged on culture: Costello
“From the outside it looks as if you had strong management that controlled the corporation and the audit committee was not involved.” – Peter Costello on CBA’s failings.
Regulation
Regulation
Top 10 reasons real reform won’t happen
Politicians rarely maintain their appetite for significant change under ferocious lobbying. Here are the arguments most commonly used to give them pause, Robert M.C. Brown writes.
Regulation
Chris Bowen on reform: ‘I’ve been around the track’
Chris Bowen will listen but he's been 'around the track', as he puts it, enough times not to allow a lobby fuelled solely by self-interests to sway him.
Regulation
Regulators will face advisers as reform looms
This year’s FPA Professionals Congress will focus on giving advisers a chance to engage with the regulators deciding their fate, FPA chief executive Dante De Gori says.
Regulation
ASIC says it’s now free to hire the best
Released from the constraints of the Public Service Act, the regulator can attract better people, Commissioner John Price says.
Regulation
US professor tells Hayne how to fix advice conflicts
The commissioner reached out to Sunita Sah for help on dealing with advice conflicts; she told him disclosure won’t work and neither will education or penalties.
Regulation
FASEA to shake things up for licensees, too
ASIC’s proposal to make responsible managers meet the new adviser standards will create ‘two classes’ of managers within licensees, industry experts say.
Regulation
Labor wouldn’t reject any of Hayne’s recommendations: Bowen
The banks appear to be ‘reading the writing on the wall’ when it comes to ownership of product and advice, shadow treasurer Chris Bowen has observed.