By James Eyers:
Boards have ultimate responsibility for repairing the erosion of trust in banks and must drive senior management away from a myopic focus on short-term profits, said former regulator John Laker.
By James Eyers: Low levels of public trust in major banks is being used as ammunition by fintech competitors to lure away their Millennial customers, says Afterpay's executive director Anthony Eisen, in an indication the Hayne royal commission could embolden the fintech sector to further improve services and reduce fees.
By Mark Eggleton: With the banking royal commission's interim report due out today, it's interÂesting to note that more regulation is not the only answer when it comes to rectifying the financial sector's malÂfeasance.
The chairman of an organisation charged with upholding ethical standards in the finance industry will head a regulatory inquiry into the Commonwealth Bankâ€™s culture and governance.
The inaugural BFO Conference provided an environment that allowed ASIC, APRA and the banks to talk openly about areas within financial services that need stronger ethical consideration.
James Eyers reports on the day.
Clancy Yeates attended The BFO conference and reports on the open discussion had about the regulator's power to ban senior bankers and much more.
There's no doubt that the public are calling for change when it comes to the financial-services industry, and that everyone wants to see a more ethical approach, which is why David Gonski, the ANZ chairman, is happy to sign the Banking and Finance Oath. According to Gonski, the relationship between the financial services and ethics continues to evolve. He tells Ben & Co. that the Banking & Finance Oath is central to the local banking and finance sector.
This body of research draws on interviews and unique survey tools used to look at the evidence of culture in over 1,300 North American organisation. Overwhelmingly executives linked culture to ethical choices.
Patrick Durkin reviews The Banking and Finance Oath/Melbourne University in Melbourne.
Dr Philip Lowe called on bank leaders to follow him in signing the “The Banking and Finance Oath”, a code of conduct developed by the banking industry that declares trust is at the heart of the profession.
Momentum to sign the Banking and Finance Oath is growing among top banking executives with ANZ Banking Group's chief executive Shayne Elliott and chairman David Gonski the latest to sign up to the initiative to lift ethical standards in the industry
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