Banking Royal Commission (Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry)

Coverage of superannuation in the Banking Royal Commission (Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry). #bankingRC

ASIC takes aim at super sector ahead of Royal Commission hearings

The Banking Royal Commission has commenced hearings into superannuation. The Chair of ASIC has taken aim at the financial services industry, in particular superannuation, weeks out from when the regulator will appear before the Banking Royal Commission. ASIC Chair James Shipton told the Financial Services Council summit that there was… Read More »ASIC takes aim at super sector ahead of Royal Commission hearings

Superannuation investors say AMP resignations only first step needed

The Banking Royal Commission has commenced hearings into superannuation. The Australian Council of Superannuation Investors (ACSI) has welcomed the resignation of AMP Chair Catherine Brenner, as a “belated gesture of board accountability” following revelations at the banking Royal Commission, but says more action is needed. AMP also today announced that… Read More »Superannuation investors say AMP resignations only first step needed

Improperly witnessing binding nominations was common practice at NAB

The Banking Royal Commission has commenced hearings into superannuation. Improperly witnessing superannuation binding nominations was a common practice amongst NAB staff, potentially leaving the documents invalid, the banking Royal Commission has heard. The Royal Commission heard about a husband and wife who were NAB customers and wished to nominate each… Read More »Improperly witnessing binding nominations was common practice at NAB

ACTU calls on industry super funds to reconsider relationship with banks

The Banking Royal Commission has commenced hearings into superannuation. The Australian Council of Trade Unions has called on industry super funds – which include union representatives – to reconsider their relationships with the banks in light of the behaviour uncovered by the banking Royal Commission. ACTU Secretary Sally McManus has… Read More »ACTU calls on industry super funds to reconsider relationship with banks

Government struggling to justify not setting up Royal Commission sooner

The Banking Royal Commission has commenced hearings into superannuation. Senior members of the Government continue to struggle to justify their previous opposition to a banking Royal Commission in light of the revelations at before the Hayne Royal Commission. In an interview on ABC Insiders on Sunday the Minister for Revenue… Read More »Government struggling to justify not setting up Royal Commission sooner

Banking Royal Commission funding coming from enforcement budget

The Banking Royal Commission has commenced hearings into superannuation. Funding for the banking Royal Commission has been taken the budget for enforcement, a senior Government Minister has revealed. Steven Ciobo, Minister for Trade, Tourism and Investment, was speaking with RN Drive. Asked if had any regrets in light of testimony… Read More »Banking Royal Commission funding coming from enforcement budget