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APRA and ASIC have the legal power to sack bank heads, but they need willpower

Journal Article


Abstract


  • The chairwoman and CEO of AMP have resigned after the company admitted to charging for advice never provided and lying to clients and regulators. But no banking CEOs have been toppled despite the Financial Services Royal Commission unearthing instances of fraud, bribery, impersonating customers, failures to report misconduct to regulators and other poor behaviour.

Publication Date


  • 2018

Citation


  • A. Schmulow, 'APRA and ASIC have the legal power to sack bank heads, but they need willpower' (2018) 1 May The Conversation 1-6.

Number Of Pages


  • 5

Start Page


  • 1

End Page


  • 6

Volume


  • 1 May

Place Of Publication


  • Australia

Abstract


  • The chairwoman and CEO of AMP have resigned after the company admitted to charging for advice never provided and lying to clients and regulators. But no banking CEOs have been toppled despite the Financial Services Royal Commission unearthing instances of fraud, bribery, impersonating customers, failures to report misconduct to regulators and other poor behaviour.

Publication Date


  • 2018

Citation


  • A. Schmulow, 'APRA and ASIC have the legal power to sack bank heads, but they need willpower' (2018) 1 May The Conversation 1-6.

Number Of Pages


  • 5

Start Page


  • 1

End Page


  • 6

Volume


  • 1 May

Place Of Publication


  • Australia