Economy

The federal government has announced it will “take further action” to compensate customers affected by historical misconduct, including by awarding $30 million in compensation to 300 ...

Commissioner Hayne’s recommendations do “less than the bare minimum” to protect and educate Indigenous Australians, a not-for-profit financial literacy foundation has criticised.

Organisational culture, governance and remuneration arrangements are interconnected, so failings in one area could impact the others, according to Commissioner Hayne.

The financial services group has realigned its leadership team to “drive transformation”. 

The chairman and the chief executive officer of a major bank have announced that they are to leave their roles following criticism from the banking royal commission.

The Coalition government has announced that it will conduct an “immediate” review of financial counselling services.

It is increasingly likely that the next move to the official cash rate would be a cut, the central bank has conceded, despite its recent persistence that the next move would be up.

Industry stakeholders, including the big four banks, have issued their responses to recommendations outlined in the final report of the banking royal commission.

Commissioner Hayne has proposed in his final report that industry codes of practice include “enforceable code provisions”.

The best interests duty for wealth advisers has not been effective in managing the conflicts of interest inherent in vertically integrated models, Commissioner Hayne has concluded in his ...