Commissioner Hayne struggles to define ‘culture’ but it’s important because it will guide behaviour long after the Final Report is gathering dust.
Tag Archives | banking sector
A year of editorials is collected into a summary of the Royal Commission hearings. No need to rush out and buy one of the books that will hit the stores in the next few months.
The Royal Commission has done great work, but most bank activities remain untouched, including the crucial issue of how banks price their products. Kenneth Hayne asks if banks are capable of the change required.
There is popular and political support for a bank royal commission, but what can it really achieve? Two years of bank bashing for doubtful results in an already heavily-regulated and monitored industry.
The cultural shortcomings of banking are being obscured by the more prominent scandals in wealth management. Without a legal fiduciary obligation to customers, are banks fulfilling the social role expected of them?
The Big 4 banks make up nearly 30% of the ASX, and Australian shares make up a significant proportion of most multi-asset portfolios. Even if you can’t resist the bank dividends, you should review your level of exposure.
Other sharemarket opportunities than banks are likely to be more resilient in the event of a market correction. Banks have large exposures to residential property which is doubling up on risk for many Australians.