NAB, ANZ to be grilled over wealth exits

Original article by Aleks Vickovich
The Australian Financial Review – Page: 20 : 15-Nov-19

A federal parliamentary committee is examining the financial services sector’s response to the Hayne royal commission. ANZ Bank CEO Shayne Elliott and National Australia Bank chairman and acting CEO Philip Chronican will appear before the committee on 15 November. Shadow assistant treasurer Andrew Leigh, who is the committee’s deputy chairman, says he is concerned about the amount of time the two banks are taking to divest their wealth management units; he says the general public expects the divestments to proceed.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

‘We won’t be shy’: Company bosses could face Senate probe into wage theft

Original article by David Crowe, Rob Harris
The Age – Page: Online : 14-Nov-19

The Senate’s economics references committee will undertake an inquiry into the issue of wage and superannuation theft. Labor put forward the motion to hold an inquiry in response to recent wage underpayment scandals, although the federal government opposed it. Liberal senator Jonathon Duniam says the Coalition is taking action on the issue, and another ‘talkfest’ is not necessary. Shadow industrial relations minister Tony Burke has described the inquiry as a "win" for Australian workers.

CORPORATES
AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, WOOLWORTHS GROUP LIMITED – ASX WOW, 7-ELEVEN STORES PTY LTD, CENTRE ALLIANCE, AUSTRALIA. FAIR WORK OMBUDSMAN

Parties urge shorter pre-polling time

Original article by Geoff Chambers
The Australian – Page: 6 : 24-Oct-19

The issue of early voting in federal elections came under scrutiny by the joint standing committee on electoral matters on 23 October. Andrew Hirst, the Liberal Party’s federal director, told the committee’s inquiry into the 18 May election that the pre-polling period should be reduced from three weeks to two, while the number of pre-polling centres should be reduced to 2013 levels. He argued that pre-polling means that many people have voted before political parties have released their key election policies.

CORPORATES
AUSTRALIA. JOINT STANDING COMMITTEE ON ELECTORAL MATTERS, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN ELECTORAL COMMISSION, GETUP LIMITED

Content on ice as ABC still frozen

Original article by Lilly Vitorovich
The Australian – Page: 2 : 23-Oct-19

The ABC’s MD David Anderson has told a Senate estimates committee hearing that the public broadcaster will have to find annual cost savings of about $40m from fiscal 2022 due to its funding freeze. He added that the cost of producing quality Australian content is rising, while the ABC is facing growing competition for audiences from international streaming video providers. Anderson also said a controversial documentary about One Nation was reviewed by editorial managers and lawyers before it was broadcast by the ABC in March.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, ONE NATION PARTY, AL JAZEERA, NETFLIX INCORPORATED, WALT DISNEY COMPANY

RBA’s Lowe faces grilling over cheap money

Original article by John Kehoe
The Australian Financial Review – Page: 6 : 8-Aug-19

Reserve Bank of Australia governor Philip Lowe will appear before a parliamentary committee on 9 August. His testimony is likely to attract increased scrutiny after the central bank’s New Zealand counterpart reduced official interest rates by 50 basis points. The House of Representatives’ economics committee is chaired by Liberal MP Tim Wilson. He says the RBA’s dual rate cuts in June and July and how it expects to eventually begin tightening monetary policy when household debt is rising are among the issues that will come under scrutiny.

CORPORATES
RESERVE BANK OF AUSTRALIA, RESERVE BANK OF NEW ZEALAND, AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS, LIBERAL PARTY OF AUSTRALIA

Home Affairs fights to restrict media

Original article by Mark Schliebs
The Australian – Page: 6 : 7-Aug-19

The Department of Home Affairs has used its submission to a parliamentary inquiry into press freedom to argue that the existing rules governing police search warrants are adequate. The Right to Know Coalition recently told the inquiry that the media industry should have the right to challenge warrants that are used to gather evidence against journalists. Home Affairs has contended that there is the potential for material evidence to be destroyed if there is advance notice that a warrant is to be issued. The ABC has rejected this suggestion, arguing that the destruction of ­evidence is a criminal offence under existing laws.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. PARLIAMENTARY JOINT COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIA’S RIGHT TO KNOW COALITION OF MEDIA COMPANIES, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN FEDERAL POLICE, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Media coalition seeks right to fight warrants

Original article by Leo Shanahan
The Weekend Australian – Page: 8 : 3-Aug-19

The Right to Know Coalition has used its submission to a parliamentary inquiry into freedom of the press to call for changes to the rules governing the issuance of police warrants. The coalition, which comprises 14 media companies and organisations, argued amongst other things that the media industry should have the right to challenge warrants that are used to gather evidence against journalists, and that all such applications should be put to an independent judge in open court. The inquiry was commissioned in response to the recent media raids.

CORPORATES
RIGHT TO KNOW COALITION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. DEPT OF HOME AFFAIRS

Super, insurance chiefs to face MPs

Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 26-Jul-19

The CEOs of insurance companies and superannuation funds will be required to appear before federal parliament’s Standing Committee on Economics at least once a year. Bank CEOs have had to front the committee regularly since 2016, and the heads of industry groups such as the Australian Banking Association will now also be asked to do so. Meanwhile, Prime Minister Scott Morrison has defended the government’s slow response to implementing the Hayne royal commission’s recommendations, stressing the need to proceed with caution to avoid any unintended consequences.

CORPORATES
AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN BANKING ASSOCIATION, AUSTRALIAN LABOR PARTY