Apparently, the world is holding its breath on the unloading of a few bales of cotton, which “could change trade forever”. In Qingdao sometime in early November, 88 bales of cotton will be unloaded and…
- Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
Just when we all thought that the Australian Securities and Investments Commission (ASIC) had already won the race to be most ineffective regulator of the year, up pops the Australian Prudential Regulation…
In his response to questioning by MPs at the House Economics Committee hearings into the big four banks, Mr Shayne Elliott, CEO of ANZ, may have inadvertently let the cat out of the bag, When questioned…
As the chief executives of Australia’s big four banks come before a House of Representatives economics committee, we ask a panel of experts what questions the banks should be answering.
The idea of separating out the retail arms of the Big Four banks, featured in the Greens election policy, has merit and has been done before.
Are proposed tax cuts giving Australia’s largest banks $7.4 billion over the next decade?
Business Briefing: the bank bill swap rate
As more details are revealed in the bank bill swap rate rigging case we explain what the rate does, how it can be manipulated and what the government should be doing about it.
Five minutes, that’s all! Behave tolerably well for 5 minutes each day, for 25 measly minutes each week, that’s all we ask. The rest of the time, traders can behave like overgrown schoolyard bullies, as…
With all the weight of evidence stacked against the banks in the case of BBSW benchmark, surely now is the time for the government to enforce regulation.
It may be the effect of the election but the regulation of banking in Australia appears to be descending into farce. Just last week, maybe in anticipation of adverse events to come, the Australian Financial…
Just last month, the US Department of Justice (DOJ), fined Goldman Sachs over AU$6.7 billion and Wells Fargo over AU$1.6 billion for “improper mortgage lending practices” specifically securitising and…
In announcing new money for the Australian Securities and Investments Commission, the Treasurer and the Minister responsible Kelly O’Dwyer executed a synchronised back flip with tuck, declaring that “The…
Last week, Commonwealth Bank announced the creation of a Blue Riband panel to “provide an additional layer of assurance for complex claim assessment and decision-making processes” at its troubled CommInsure…
The reactions of ANZ and Westpac management to recent legal actions by ASIC alleging manipulation of the Bank Bill Swap Rate (BBSW) benchmark are instructive of the attitudes of the major banks. ANZ wheeled…
It’s official, it’s war. David Murray kicked the war off this week with his rather immoderate potshot at the corporate regulator, ASIC, for its efforts to address banking culture And to be perfectly candid…
Analysis of the similarities between Australia’s four largest banks shows all are exposed to risk of a housing bubble burst and face threats from digital disruption.
In the scandal over possible misconduct by CommInsure, the insurance arm of CommBank, for its treatment of sick and dying customers, much has been made about how serious illnesses are diagnosed. In one…
How can someone go to bed at night with a clear conscience, knowing that somewhere in Australia there’s someone that’s dying… in their darkest hour? What are the rules for nominating someone for an Australian…
If ASIC gets its way and ‘conduct risk’ is regulated, banks might get serious about systematic problems.
Almost three years after the hares were set running on the Bank Bill Swap Reference Rate (BBSW) scandal by the US regulator the Commodities Futures Trading Commission (CTFC), ASIC has finally taken out…
In its first quarter results this month, the National Australia Bank (NAB), breathed a sigh of relief announcing that the “separation” of Clydesdale had been “successful” with an expected loss of approximately…
Greg Medcraft, chairman of the corporate regulator ASIC, is a distinguished banker who worked for 27 years in the obscure world of asset securitisation with the large French bank Societe Generale. He helped…
It’s 1966 all over again and see-through is back in fashion. In the financial world, ‘transparency’ has become the new fashion statement. For example, to quote one ‘entrepreneur’, Brian Forde, in Sydney…
This week, Masters has on offer a white and gold rococo style mirror. If Woolworths’ Chairman, Gordon Cairns, were to nip down to his local Masters warehouse (no need to rush, plenty of parking available…
Just a day after Woolworths limped from the Do-It-Yourself battlefield, the Wesfarmers dynasty (owners of Bunnings) announced its plan to invade the United Kingdom. For Woolies, its foray into Masters…
Contact Pat for
- General
- Media request
- Speaking request
- Consulting / Advising
- Research collaboration
- Research supervision
- Location: Bowral, Australia
- Website
- Article Feed
- ORCID
- Joined
