The major banks have tried to downplay their role in manipulating the BBSW interest rate benchmark. But this is not the first instance of bad behaviour.
Articles on BBSW
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Parliamentary hearings reveal a lot of confusion between government, regulators and industry around banking regulation. This needs to be fixed.
2016 was not a good year for ASIC and now it looks like it might run up the white flag on its BBSW legal case.
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…
ASIC has been too slow to prosecute those accused of rigging the bank bill swap rate so it doesn’t matter if the government makes the penalties harsher for those found guilty.
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…
Prime Minister Malcolm Turnbull has given banks a bollocking for unethical behaviour, suggesting they have not repaid the support they received during the global financial crisis.
Unethical behaviour by bankers represents a systematic risk to banks, and causes widespread harm.
ASIC has a high success rate, but its high-profile civil action against ANZ Bank will be a tough battle to win.
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…
The wheels of justice grind exceedingly slow and nowhere slower than in the Sydney headquarters of the Australian Securities and Investments Commission (ASIC). A recent report appears to show that ASIC…
