Brief To The Royal Commission On Banking And Finance

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Banking Bad

Author : Adele Ferguson
Publisher : HarperCollins Australia
ISBN 13 : 1460711432
Total Pages : 286 pages
Book Rating : 4.4/5 (67 download)

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Book Synopsis Banking Bad by : Adele Ferguson

Download or read book Banking Bad written by Adele Ferguson and published by HarperCollins Australia. This book was released on 2019-08-01 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the 2020 Davitt Award for True Crime/Non-fiction. Against all the odds, Australia held a royal commission into the banking and financial services industries. Its revelations rocked the nation. Even defenders of the banks were blindsided. Few people were more instrumental in bringing about the commission than journalist Adele Ferguson. Through her exposes in print and on television, she pursued the truth about funds mismanagement, fraud, lack of probity, and the hard-sell culture that took over the finance industry after deregulation in the 1980s. But it wasn't just light-touch regulators and crooked bankers growing fat on bonuses she put under the spotlight. It was also their victims - men and women who had lost everything, and had no recourse when they discovered empty accounts, egregious fees, forged documents and broken promises. Now in Banking Bad, Ferguson tells the full story of the power imbalance, toxic culture and cover-ups. She describes the long fight for justice by whistleblowers, victims and political mavericks, and she looks at the outcomes of the royal commission - the falls from grace, the damaging hubris, the scathing assessment of the regulators, and the colossal compensation bill - an estimated $10 billion. Finally, she asks whereto from here? In May 2019, the Coalition government, which resisted calls for a royal commission, was re-elected. Bank stocks surged and lending regulations were loosened. Will it all be business as usual from now on, or have our financial executives learned that their wealth cannot come at the expense of ordinary Australians? This is a book for every person with a bank account. PRAISE 'If you want a glimpse of the reality distortion that multi-millionaire bankers live in, you need to read Banking Bad.' - Scott Pape 'Ferguson's pacey writing style gives the book the air of a corporate thriller.' - Michael Rowland, ABC News Breakfast 'And for those of who anticipate that corporate Australia will lapse back into the state of complacency and misconduct revealed in the APRA CBA Report and the Hayne Royal Commission, ... should read the whole book for themselves - for no other reason than that it so clearly identifies the issues of governance and culture that seems to have escaped them for so long.' - Graeme Samuel, Professorial Fellow in the Monash Business School and former chairman of the ACCC '[Adele] recounts a colourful cast of bullies, thieves and crooks being rewarded extraordinary sums to rip off customers.' - Money Magazine

It's Your Money

Author : Alan Kohler
Publisher : Black Inc.
ISBN 13 : 1743820747
Total Pages : 256 pages
Book Rating : 4.7/5 (438 download)

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Book Synopsis It's Your Money by : Alan Kohler

Download or read book It's Your Money written by Alan Kohler and published by Black Inc.. This book was released on 2019-08-19 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: You don’t need to be an expert to manage your money well, but you do need to know how to choose trustworthy advisers and services. In It’s Your Money, Alan Kohler, one of Australia’s most trusted financial experts, offers unique insights into and thorough analysis of the crisis in financial services. Having observed the industry first-hand for more than forty-five years, Kohler sees the big picture in a way no-one else can. With a sharp and unflinching eye, Kohler explains how the stage was set for corruption, breaks down the royal commission’s findings and unpacks what it means for you. He shares his investing philosophy and offers advice on all aspects of financial planning, including appraising financial plans, growing your superannuation, and finding ethical investments. He gives you the knowledge and insight you need to invest sensibly to protect and grow your money. It’s Your Money is an indispensable guide for anyone who wants to do more with their money.

The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia

Author : Francesco de Zwart
Publisher : Springer
ISBN 13 : 9789811617126
Total Pages : 0 pages
Book Rating : 4.6/5 (171 download)

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Book Synopsis The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia by : Francesco de Zwart

Download or read book The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia written by Francesco de Zwart and published by Springer. This book was released on 2022-10-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Key Code and Handbook examines the corporate governance and accountability of Major Banks, their directors and executives which were the central focus of bank, Supervisor, Regulator and governmental activity and public scrutiny in 2018 and 2019. This book explores this responsibility focus by providing evidence from the Global Financial Crisis and beyond with both APRA and ASIC investigating illegal conduct, misconduct and conduct which was below the level of community expectations. This book discusses how the Royal Commission into misconduct in the banking and financial services industry has already given rise to a detailed Final Report whose recommendations are still being put into effect. Further, this book uses evidence provided by the large number of Prudential Standards issued by APRA and investigations into the conduct of Major Banks by Regulators. This book explores governance variables – over 1,700 in number and grouped into 159 ‘key groupings’ or separate categories – which are all indexed to 28 governmental, regulatory and supervisory reports and documents to create a governance code and commentary specifically tailored to Australian banks. Each governance variable is modelled on the Stage 1 Relational Approach contained in Enhancing Firm Sustainability Through Governance. Given the huge interest in the governance of banks, Parts 1 and 2 – explaining the Relational Approach - of Stage 1 were recently published in November 2018 and June 2019 in the Australian Journal of Corporate Law. This book is the largest reference book and handbook in publication worldwide containing the structures, mechanisms, processes and protocols – the checks and balances we call ‘governance variables’ – that deeply addresses and explains banking accountability and regulation in Australia.

The Financial Crisis Inquiry Report

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

People Risk Management

Author : Keith Blacker
Publisher : Kogan Page Publishers
ISBN 13 : 0749471360
Total Pages : 312 pages
Book Rating : 4.7/5 (494 download)

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Book Synopsis People Risk Management by : Keith Blacker

Download or read book People Risk Management written by Keith Blacker and published by Kogan Page Publishers. This book was released on 2015-04-03 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: People Risk Management provides unique depth to a topic that has garnered intense interest in recent years. Based on the latest thinking in corporate governance, behavioural economics, human resources and operational risk, people risk can be defined as the risk that people do not follow the organization's procedures, practices and/or rules, thus deviating from expected behaviour in a way that could damage the business's performance and reputation. From fraud to bad business decisions, illegal activity to lax corporate governance, people risk - often called conduct risk - presents a growing challenge in today's complex, dispersed business organizations. Framed by corporate events and challenges and including case studies from the LIBOR rate scandal, the BP oil spill, Lehman Brothers, Royal Bank of Scotland and Enron, People Risk Management provides best-practice guidance to managing risks associated with the behaviour of both employees and those outside a company. It offers practical tools, real-world examples, solutions and insights into how to implement an effective people risk management framework within an organization.

The fundamental principles of financial regulation

Author : Markus Konrad Brunnermeier
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis The fundamental principles of financial regulation by : Markus Konrad Brunnermeier

Download or read book The fundamental principles of financial regulation written by Markus Konrad Brunnermeier and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Report of the Hillsborough Independent Panel

Author : Hillsborough Independent Panel
Publisher : The Stationery Office
ISBN 13 : 9780102980356
Total Pages : 400 pages
Book Rating : 4.9/5 (83 download)

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Book Synopsis The Report of the Hillsborough Independent Panel by : Hillsborough Independent Panel

Download or read book The Report of the Hillsborough Independent Panel written by Hillsborough Independent Panel and published by The Stationery Office. This book was released on 2012-09-12 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: 96 women, men and children died as a result of the disaster in Hillsborough Stadium on 15 April 1989. They were crushed due to overcrowding in the Leppings Lane terrace, penned in by the ground's fencing. Hundreds more were injured and thousands traumatised. Lord Justice Taylor led a judicial inquiry (1990, Cm. 962, ISBN 9780101096225), concluding that the main cause of the disaster was the failure of police control. The next 11 years saw a variety of investigations and proceedings, including a scrutiny of new evidence (Lord Justice Stuart-Smith, 1998, Cm. 3878, ISBN 9780101387828). Yet many bereaved families felt that the true context, circumstances and aftermath had not been adequately made public, and were particularly aggrieved that it had become widely assumed that Liverpool fans' behaviour had contributed to the disaster. The Independent Panel was established in 2010 to oversee full public disclosure of all documents relating to the disaster and to report on its work. This report is in three parts. Firstly it shows what was already known and in the public domain by 2010. Secondly, in 12 detailed chapters, it describes what the disclosed documents add to public understanding. The third part gives a review of options for providing an archive of the documents. The disclosed documents (available at http://panel.hillsborough.independent.gov.uk/) add considerably to public understanding. They show that multiple factors were responsible for the tragedy and that the fans were not the cause. The report also shows that the bereaved families met a series of obstacles in their search for justice over more than 20 years.

Indian Currency and Finance

Author : John Maynard Keynes
Publisher :
ISBN 13 :
Total Pages : 290 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Indian Currency and Finance by : John Maynard Keynes

Download or read book Indian Currency and Finance written by John Maynard Keynes and published by . This book was released on 1913 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Canada

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1498321119
Total Pages : 85 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Canada by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Canada written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-06-24 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macrofinancial vulnerabilities—notably, elevated household debt and housing market imbalances—remain substantial, posing financial stability concerns. Various parts of the financial system are directly exposed to the housing market and/or linked through housing finance. The financial system would be able to manage severe macrofinancial shocks. Major deposit-taking institutions would remain resilient, but mortgage insurers would need additional capital in a severe adverse scenario. Housing finance is broadly resilient, notwithstanding some weaknesses in the small non-prime mortgage lending segment. Although banks’ overall capital buffers are adequate, additional required capital for mortgage exposures, along with measures to increase risk-based differentiation in mortgage pricing, would be desirable. This would help ensure adequate through-the cycle buffers, improve mortgage risk-pricing, and limit procyclical effects induced by housing market corrections.

The People Vs the Banks

Author : Michael Roddan
Publisher : Melbourne University
ISBN 13 : 9780522875188
Total Pages : 342 pages
Book Rating : 4.8/5 (751 download)

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Book Synopsis The People Vs the Banks by : Michael Roddan

Download or read book The People Vs the Banks written by Michael Roddan and published by Melbourne University. This book was released on 2019 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: The banking royal commission has put the financial sector on trial and exposed its self-interest, corruption and excess. The People vs The Banks reveals what happens when businesses put profit before punters, reward bad behaviour and assume they are beyond the law. The day of reckoning for liars and thieves in pin-striped suits has arrived.

The Government response to the Independent Commission on Banking

Author : Great Britain: H.M. Treasury
Publisher : The Stationery Office
ISBN 13 : 9780101825221
Total Pages : 82 pages
Book Rating : 4.8/5 (252 download)

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Book Synopsis The Government response to the Independent Commission on Banking by : Great Britain: H.M. Treasury

Download or read book The Government response to the Independent Commission on Banking written by Great Britain: H.M. Treasury and published by The Stationery Office. This book was released on 2011-12-19 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: In its final report the Independent Commission on Banking (ICB) recommended a package of measures, consisting of ring-fencing vital banking services and increasing banks' loss-absorbency. The Government strongly supports the ICB's objectives and dual approach. The Government agrees that vital banking services - in particular, the taking of retail deposits - should only be provided by 'ring-fenced' banks', and that these banks should be prohibited from undertaking certain investment banking activities. On increased loss-absorbency, also supported are the ICB recommendations for higher equity requirements for large ring-fenced banks, a minimum leverage ratio, loss-absorbing debt, insured depositor preference and higher levels of loss-absorbing capacity for banks that are difficult to resolve. With regards to the principle that systemically important banks hold a minimum about of loss-absorbing capacity on a group-wide basis, however, the requirement should not apply to non-UK operations where it can be shown that those operations to do not pose a risk to UK financial stability. The Government also believes that depositor preference needs further analysis and consultation. On competition, the Government also strongly supports all the ICB recommendations. The Government estimates the aggregate private costs to UK banks at £3.5bn - £8bn, producing a gross reduction in GDP of £0.8bn - £1.8bn. Against these costs though should be set the potentially much larger benefits with the ICB's recommendations yielding an estimated incremental economic benefit of £9.5bn per annum. Significantly too the Government wants to see relevant legislation completed by the end of this Parliament in May 2015 as opposed to the ICBs recommended 2019

Royal Commissions and Public Inquiries in Australia

Author : Scott Prasser
Publisher :
ISBN 13 : 9780409322545
Total Pages : 0 pages
Book Rating : 4.3/5 (225 download)

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Book Synopsis Royal Commissions and Public Inquiries in Australia by : Scott Prasser

Download or read book Royal Commissions and Public Inquiries in Australia written by Scott Prasser and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: While there have been many different studies on public inquiries, Royal Commissions and Public Inquiries in Australia provides the most comprehensive and up-to-date overview of public inquiries in Australia. It is based on rigorous and in-depth analysis spanning several decades, and has required patient and painstaking work in defining and identifying different federal public inquiries and monitoring their performance over the last 100 years. ROYAL COMMISSIONS AND PUBLIC INQUIRIES IN AUSTRALIA will be of interest to all who seek to better understand the particular role of public inquiries and what their continued appointment tells us about trends in Australian government generally.' From the Foreword by Professor John Wanna, The Sir John Bunting Professor of Public Administration, Australian National University. ROYAL COMMISSIONS AND PUBLIC INQUIRIES IN AUSTRALIA provides the first comprehensive overview of the extent, use and impact of Commonwealth public inquiries appointed since 1901. Specifically, this new book:* defines 'public inquiries,' and delineates them from other advisory bodies;* details trends in public inquiry numbers since Federation and compares these to overseas jurisdictions;* classifies the different types and forms of public inquiries;* explains public inquiry procedures, powers and associated legislation;* analyses why public inquiries are appointed and their roles in the political system;* assesses their impact on public policy; and,* explores the continuing and future roles of public inquiries. Covering public inquiries appointed by the Commonwealth government since Federation, particular attention is given to those public inquiries appointed during the last thirty years, when inquiry numbers increased markedly. References to numerous inquiries throughout the book are supplemented by detailed case studies of key public inquiries, including royal commissions and appointed by different governments. This authoritative book has been written by an expert in the field. Lecturer Dr Scott Prasser has worked in federal and state governments in senior policy and research advisory positions. ROYAL COMMISSIONS AND PUBLIC INQUIRIES IN AUSTRALIA will be a valuable reference for those interested in a widely used, but often neglected, advisory instrument of modern government that continues to influence many areas of public policy.

The Economics of the Canadian Financial System

Author : Ronald A. Shearer
Publisher : Prentice Hall
ISBN 13 :
Total Pages : 936 pages
Book Rating : 4.3/5 (555 download)

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Book Synopsis The Economics of the Canadian Financial System by : Ronald A. Shearer

Download or read book The Economics of the Canadian Financial System written by Ronald A. Shearer and published by Prentice Hall. This book was released on 1995 with total page 936 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Stability and Prudential Regulation

Author : Alison Lui
Publisher : Taylor & Francis
ISBN 13 : 1317480236
Total Pages : 232 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis Financial Stability and Prudential Regulation by : Alison Lui

Download or read book Financial Stability and Prudential Regulation written by Alison Lui and published by Taylor & Francis. This book was released on 2016-10-04 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial stability is one of the key tenets of a central bank’s functions. Since the financial crisis of 2007-2009, an area of hot debate is the extent to which the central bank should be involved with prudential regulation. This book examines the macro and micro-prudential regulatory frameworks and systems of the United Kingdom, Australia, the United States, Canada and Germany. Drawing on the regulator frameworks of these regions, this book examines the central banks’ roles of crisis management, resolution and prudential regulation. Alison Lui compares the institutional structure of the new ‘twin-peaks’ model in the UK to the Australian model, and the multi-regulatory US model and the single regulatory Canadian model. The book also discusses the extent the central bank in these countries, as well as the ECB, are involved with financial stability, and argues that the institutional architecture and geographical closeness of the Bank of England and Financial Policy Committee give rise to the fear that the UK central bank may become another single super-regulator, which may provide the Bank of England with too much power. As a multi-regional, comparative study on the importance and effectiveness of prudential regulation, this book will be of great use and interest to students and researchers in finance and bank law, economics and banking.

Australian Master Financial Planning Guide 2020/21

Author : C. C. H. Editors
Publisher :
ISBN 13 : 9781922347381
Total Pages : pages
Book Rating : 4.3/5 (473 download)

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Book Synopsis Australian Master Financial Planning Guide 2020/21 by : C. C. H. Editors

Download or read book Australian Master Financial Planning Guide 2020/21 written by C. C. H. Editors and published by . This book was released on 2020-10-29 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Regulation of Financial Planning in Australia

Author : Angelique Nadia Sweetman McInnes
Publisher : Routledge
ISBN 13 : 0429620292
Total Pages : 325 pages
Book Rating : 4.4/5 (296 download)

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Book Synopsis The Regulation of Financial Planning in Australia by : Angelique Nadia Sweetman McInnes

Download or read book The Regulation of Financial Planning in Australia written by Angelique Nadia Sweetman McInnes and published by Routledge. This book was released on 2019-08-20 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the legitimacy of the current Australian Financial Services Licensee-Authorised Representative (AFSL-AR) licensing model, as specified in the Commonwealth Corporations Act 2001. The book rectifies the deficiency in scholarly attention to this matter by developing a new conceptualised framework for the financial planning discipline. It takes into account theories in agency, legislation, legitimacy and the independent individual regulatory regimes in other professions; thereafter integrating this framework with the financial planning theory to examine the legitimacy, or what was found to be the illegitimacy of licensing advisers via multiple third party conflicted commercially oriented licensees. This book makes a very useful reference to understanding financial planning licencing model in Australia.

New Accountability in Financial Services

Author : Joe McGrath
Publisher : Springer Nature
ISBN 13 : 3030887154
Total Pages : 234 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis New Accountability in Financial Services by : Joe McGrath

Download or read book New Accountability in Financial Services written by Joe McGrath and published by Springer Nature. This book was released on 2022-01-01 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a critical examination of recently introduced individual accountability regimes that apply to the financial services industry in the UK (SMCR) and Australia (BEAR and the forthcoming FAR), together with a forthcoming new individual accountability regime ( in particular, SEAR) in Ireland. It provides a framework for analysing whether these regimes will achieve behavioural change in the financial services industry. This book argues that, whilst sanctioning individuals to deter future misconduct is an important part of any successful regulatory strategy, the focus should be on ensuring that individuals in the financial services industry internalise the norms of behaviour expected under the new regimes. In this regard, the analysis in this book is informed by criminological theory, regulatory theory and behavioural science. The work also argues for a “trajectory towards professionalisation” of financial services, and banking in particular, as an important means of positively influencing industry-wide norms of behaviour, which have a key influence on firms’ and individuals’ behaviours.