Cover-up culture plaguing corporate Australia, inquiry told
A cover-up mentality is plaguing corporate Australia, an inquiry has heard, with companies choosing to investigate claims of fraud themselves rather than report them to regulators.
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Georgia Wilkins
CBA's compensation bill rises as new victims emerge
The Commonwealth Bank has been forced to pay a further $4.96 million in compensation to victims of bad financial advice as a result of being slapped with licence conditions by the corporate regulator.
AMP shakes up management after massive losses
AMP has shaken up its management team in the wake of escalating losses in its life insurance division.
ASIC bans former Westpac financial planner
A former Westpac financial planner has been banned from providing financial advice for eight years after an investigation found he gave clients inappropriate advice, costing the bank $1.1 million.
Banks, consumer groups critical of bank inquiry recommendations
Banks say a plan to name and shame employees who break the rules within five days after their breach is "unrealistic" and have hosed down support for a banking tribunal.
Banks' 'few bad apples' mentality must change: Medcraft
A lack of accountability and a "few bad apples" mindset is plaguing Australia's largest corporations and is behind the mishandling of scandals and widespread misconduct in the financial services sector.
Banks need 'overhaul' not CEO pledges: finance expert
Australia's banks need more than pledges from CEOs to improve their culture following a series of scandals at their financial planning and insurance arms, a leading finance expert has warned.
Coles to offload $880m credit card business
Wesfarmers is selling its $880 million Coles credit card portfolio to Citi in a retreat from the financial services sector.
Why it pays to be a man in your 70s in Australia
If you want to run a top-listed company in Australia, it pays to be a man in your 70s.
Banks reveal internal investigations of staff
The Commonwealth Bank made 1400 investigations into suspected staff misconduct over the last year, with 59 cases involving executive managers.
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