Original article by James Eyers
The Australian Financial Review – Page: 1 & 2 : 17-Aug-17

The Australian Institute of Company Directors has concerns about the Federal Government’s proposed Banking Executive Accountability Regime. The AICD’s submission to the Government warns that rather than increasing the accountability of financial industry executives, the reforms could in fact lead to greater risk aversion in the sector. The AICD is also concerned about the increased powers of the Australian Prudential Regulation Authority under the reforms, particularly with regard to executive remuneration.

CORPORATES
AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, UNIVERSITY OF SYDNEY, BANK OF MELBOURNE LIMITED, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED