.JoshFrydenberg: We have legislation before parliament to ensure directors within super funds face civil penalties where they break the law. Commissioner Hayne recommended it be extended to trustees; we will amend legislation. MORE: FirstEdition
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What bank bombshell means for youThe banking royal commission’s final report has singled out one of the big four banks for failing to learn from its misconduct.
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Hayne unleashes on NAB boss and chairmanThe royal commission has slammed NAB's Andrew Thorburn and its chairman, former Treasury secretary Ken Henry, for not learning the lessons of the past.
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Hayne unleashes on NAB boss and chairmanThe royal commission has slammed NAB's Andrew Thorburn and its chairman, former Treasury secretary Ken Henry, for not learning the lessons of the past.
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Hayne has struck a ‘sensible balance’ with royal commission report: McCrann | Sky News AustraliaThe Herald Sun’s Terry McCrann has praised Commissioner Kenneth Hayne QC for his banking royal commission recommendations after his report was released to the public, saying he was ‘impressed and surprised’ by the findings.\n\nThe business columnist told Sky News Mr Hayne struck ‘a very sensible balance’ between holding financial institutions and individuals to account for their actions, and putting structures in place to prevent wrongdoing in the future.
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NAB bosses 'cop scathing criticism' in banking royal commission | Sky News AustraliaThe banking royal commission has given 76 recommendations in total that cover banks, superannuation, mortgage brokers and financial advisors.\n\nThe final report gives 22 referrals of 19 banks and other financial institutions to Australian Securities and Investments Commission and Australian Prudential Regulation Authority, which may lead to criminal prosecutions.\n\nSky News host David Speers says the report does not ‘name names’ of who should be criminally prosecuted but the NAB CEO Andrew Thorburn and chair Dr Ken Henry ‘copped some scathing criticism’, saying they were the most criticised individually.\n\nBanking royal commissioner Kenneth Hayne QC says he not persuaded the NAB is willing to accept responsibility for deciding the right thing to do in the future and requiring their staff to act accordingly. \n\n
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Banking royal commission makes 76 recommendations for reform | Sky News AustraliaThe banking royal commission has made 24 referrals to regulators and 76 recommendations for wide-ranging reform in the sector.\n\nBanking royal commissioner Kenneth Hayne QC says the time has come to address financial misconduct and prevent its recurrence, proposing a raft of measures designed to better protect consumers.\n\nMr Hayne has made 24 referrals, including all the major banks except for Westpac, to the Australian Securities and Investments Commission and Australian Prudential Regulation Authority for further investigation.\n\nMr Hayne was scathing of some bank bosses, particularly the National Australia Bank, for being unwilling to accept responsibility.\n\nMr Hayne said he was not confident NAB had learned the lessons from the past as he criticised its CEO Andrew Thorburn and chair Dr Ken Henry, a former Treasury secretary.\n\n\n\n\n
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Banking royal commission makes 76 recommendations | Sky News AustraliaThe banking royal commission has made 24 referrals to regulators and 76 recommendations for wide-ranging reform in the sector.\n\nBanking royal commissioner Kenneth Hayne QC says the time has come to address financial misconduct and prevent its recurrence, proposing a raft of measures designed to better protect consumers.\n\nMr Hayne has made 24 referrals, including all the major banks except for Westpac, to the Australian Securities and Investments Commission and Australian Prudential Regulation Authority for further investigation.\n\nMr Hayne was scathing of some bank bosses, particularly the National Australia Bank, for being unwilling to accept responsibility.\n\nMr Hayne said he was not confident NAB had learned the lessons from the past as he criticised its CEO Andrew Thorburn and chair Dr Ken Henry, a former Treasury secretary.\n\n\n\n\n
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Crimes, radical changes to super, home lending from Hayne final reportBanks should face criminal charges over the fees-for-no-service scandal, while the superannuation and home loan sectors need to be radically overhauled, under sweeping recommendations by the bankingroyalcommission
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Crimes, radical changes to super, home lending from Hayne final reportThe royal commission maps a blueprint to overhaul financial services in Australia
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Crimes, radical changes to super, home lending from Hayne final reportCrimes, radical changes to super, home lending from Hayne final report BankingRC BankingRoyalCommission
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