Today was D-Day for Australia's largest bank, with the Commonwealth Bank's CEO Matt Comyn the first chief executive to face the music. Whistleblower Jeff Morris exposed corrupt practices at Commonwealth Bank that helped lead to the royal commission, and he blames the bonuses for creating a culture where sales were pursued at all costs.Read More
2018 Annual General Meeting
The 2018 Annual General Meeting was held on Wednesday, 7 November 2018 at 9.30am (Brisbane time) in the Plaza Ballroom at the Brisbane Convention and Exhibition Centre, on the corner of Merivale and Glenelg Streets, South Brisbane, Queensland.Read More
It is important to remember that the banking royal commission was called by a government that labelled it “regrettable and unnecessary” and limited both its resources and its term to just one year.Read More
Kenneth Hayne presents initial reports of the banking royal commissionRead More
Already under sustained pressure from the Royal Commission, banks and financial services firms were dealt a lashing from the Treasurer at the launch of a scathing report from the Productivity Commission.
Scott Morrison says the institutions are offering customers no genuine transparency around products or pricing.Read More
The Banking Royal Commission is about to turn its spotlight on the compulsory superannuation sector and reveal massive problems with the insurance associated with many superannuation accounts.Read More
The banking royal commission has heard how a Bankwest Manger engaged in inappropriate and improper selling, which saw Queensland cattle farmer Melville Ruddy face financial disaster. Mr Ruddy and his wife were initially planning to sell their cattle farm ‘Sunrise ‘in 2011 to pay of their debt, when a persistent Bankwest manager offered them a refinancing package instead. See the full vide https://www.skynews.com.au/details/_5808318930001Read More
Fraud and insider trading claims laid bare but still no hunger for broader industry inquiry.Read More
"The current board has demonstrated that they have no right to be there and that they should go," whistleblower Jeff Morris says it was a wake-up call for the government as much as it is the banksRead More
The latest Commonwealth Bank scandal has seen Australians further lose faith in the big banks.
It comes after weeks of news out of the Financial Services Royal Commission, and just a few days after a damning report from the banking regulator, APRA.Read More
To have one bank go rogue may be regarded as unfortunate but to have them all go rogue smacks of carelessness. Or, to put it another way: one rogue bank is a bank scandal, when they all go rogue it is a failure of regulation.Read More
Former All Blacks captain David Kirk can expect a bruising encounter when he chairs Kathmandu's shareholder meeting in Christchurch this Friday.Read More
ELIZABETH JACKSON: Jeff Morris first blew the whistle on misconduct in the Commonwealth Bank of Australia's financial planning arm eight years ago.
In 2014 he was vindicated when a Senate inquiry delivered a scathing verdict on the bank's mis-selling of financial products to clients who lost millions of dollars.
Greg Medcraft, the chairman of beleaguered corporate regulator the Australian Securities and Investments Commission (ASIC), has had an interesting career.Read More
The chair of the powerful Senate economics references committee has lashed out at the Commonwealth Bank for its "unacceptable" lack of attendance at a Senate inquiry into wrongdoing within its insurance arm CommInsure and accused the bank of bullying.Read More
In the lead-up to the federal election there are a lot of last-minute parliamentary reports being released. What happens next has a big question mark hanging over it.Read More