UNSW Centre for Law Markets and Regulation response to Interim Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
In choosing not to impose restrictions on bonuses and commissions, the government left untouched the incentives for inappropriate financial advice and lending decisions.
While codes of conduct in banking may help, the tsunami of financial regulation over the past few decades has swept aside much of the sense of personal accountability.
It seems ASIC and the Director of Public Prosecutions will have no lack of evidence to pursue civil penalties and criminal cases. The bigger issue is what charges to go with.
The accomplishments of successful royal commissions flow not just from strong findings and recommendations but from intelligent procedure, writes Grant Hoole.
We already have the evidence base to address the problems inherent in juvenile detention. What we need is the political will and leadership to implement the solutions, write Melanie Schwartz and Chris Cunneen.
