Original article by John Kehoe, Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 14-Feb-19
Labor’s push to recall parliament for an additional two weeks in March seems unlikely to succeed after three crossbenchers signalled that they will oppose the motion. Meanwhile, the federal government has told banks and industry regulators that it will hold another inquiry in three years’ time to make sure that the misconduct exposed by the financial services royal commission is not being repeated. Labor in turn has proposed harsher penalties for misconduct in the sector.
AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN BANKING ASSOCIATION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC