ASIC’s Shipton warns banks to restore trust – or else

Original article by Joyce Moullakis, James Eyers
The Australian Financial Review – Page: 1 & 12 : 6-Apr-18

Australian Securities & Investments Commission chairman James Shipton has urged banks to adopt standards that are comparable with those of a "genuine profession". He says that if they cannot do this themselves, then ASIC is quite prepared to impose further regulations on them. His comments come during the course of the banking royal commission, which is tipped to be quite critical of the sector when it hands down its findings.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, MORGAN STANLEY AUSTRALIA LIMITED

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