Culture, governance and remuneration

Because primary responsibility for misconduct in the financial services industry lies with the entities concerned and those who manage and control them, effective leadership, good governance and appropriate culture within the entities are fundamentally important. And culture, governance and remuneration Read More …

Culture and governance

Recommendation 5.6 – Changing culture and governance All financial services entities should, as often as reasonably possible, take proper steps to: assess the entity’s culture and its governance; identify any problems with that culture and governance; deal with those problems; Read More …

Letters Patent

ELIZABETH THE SECOND, by the Grace of God Queen of Australia and Her other Realms and Territories, Head of the Commonwealth: TO The Honourable Kenneth Madison Hayne AC QC GREETING WHEREAS Australia has one of the strongest and most stable Read More …

2.3 What the case study showed

2.3.1Misconduct In its submissions to the Commission, Freedom suggested that in circumstances where ASIC was reviewing Freedom’s practices, ‘ASIC might be considered the more appropriate body to review and make final determinations regarding the past conduct of Freedom Insurance [than Read More …

1.3 What the case study showed

Mr Martin accepted that Clearview may have engaged in misconduct in a number of respects. Those concessions were properly made. In respect of the anti-hawking issues, Mr Martin accepted that ClearView may have breached the prohibition on the hawking of Read More …

2.2 Changing culture

As I have said, each financial services entity is responsible for its own culture. Each must form a view of its culture, identify problems, develop and implement a plan to deal with them, and then determine whether the changes it Read More …

Introduction

I said in the first chapter of this Report that there can be no doubt that the primary responsibility for misconduct in the financial services industry lies with the entities concerned and those who managed and controlled those entities: their Read More …

4.4 Culture, governance and remuneration

Because primary responsibility for misconduct in the financial services industry lies with the entities concerned and those who manage and control them, effective leadership, good governance and appropriate culture within the entities are fundamentally important. And culture, governance and remuneration Read More …

3.5 Culture, governance and remuneration

Remuneration Recommendation 5.1 – Supervision of remuneration – principles, standards and guidance In conducting prudential supervision of remuneration systems, and revising its prudential standards and guidance about remuneration, APRA should give effect to the principles, standards and guidance set out Read More …

1.5 Underlying principles and general rules

In my Interim Report I asked many questions. As I said at that time, I sought to provoke informed and useful debate about the issues that have emerged in the course of the Commission’s inquiries. Many of those questions were Read More …