Original article by Joanna Mather, Jonathan Shapiro
The Australian Financial Review – Page: 11 : 30-Aug-18

Future Fund chairman Peter Costello says the banking royal commission should look into the failings of the Australian Securities & Investments Commission in responding to misconduct in the financial services sector. The former federal treasurer argues that while the misconduct of banks has been appalling, ASIC bears some responsibility for allowing it to occur. Costello forecasts that the royal commission will result in lower profits in the banking sector, while financial advice will cost more and it will become harder to obtain credit.

CORPORATES
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC