Australian inquiry calls for major reforms of regulatory culture

Authorities did not enforce laws on financial sector strongly enough, report argues

australia-map

An official inquiry has strongly criticised the way in which Australian authorities oversee the country’s financial sector, and called for major reform.

The Royal Commission on Misconduct in the Banking, Superannuation and Financial Services Industry released its final report on February 4. The report made very strong criticisms of both regulators for failing to prevent malpractice in the industry. But it said that Australia should keep the “twin peaks” oversight model.

Kenneth Hayne, a former

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.