The UK is increasingly reliant on the financial services industry, to the detriment of a healthy economy – and the Coalition has been complicit.
Articles on Financial services
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Looking back at how the US financial industry grew to dominate the economy rather than merely serve it will help us avoid another crisis.
Regulating bitcoin and digital currencies is hard, but tackling currency exchanges may be the answer.
Digital technology and pervasive access to the internet have reshaped many industries, and banking is no exception: Hampden and Co is the latest in a short but growing list of digital-only banks built…
The financial institutions of the City of London and Wall Street are to take part in a series of “war game” exercises aimed at testing their resilience to cyber attack. The announcement comes as prime…
A key component of the Financial System Inquiry handed to Treasurer Joe Hockey this week was that “the financial system should be subject and responsive to market forces, including competition”. But on…
The services sector is poised to reap significant gains from the China-Australia free trade deal. Preferential access will be granted across key areas such as education, financial services, legal services…
The word “speculation” carries a connotation of negativity. And it’s probably fair to say that pretty much every financial crisis since the tulip mania of the 1630s can be attributed to some sort of mass…
In announcing his team of commissioners, European Commission president-elect Jean-Claude Juncker appears to have taken to heart Machiavelli’s oft-repeated dictum: “keep your friends close and your enemies…
Australia’s financial system is competitive and well regulated, but more work is required to boost superannuation competition, according to the interim report of the Financial System Inquiry, led by former…
At the current frequency of financial system inquiries (Campbell 1982, Wallis 1997, Murray 2014) there will not be another until 2030. That makes this week’s interim report from David Murray all the more…
The Senate inquiry in the actions of the Commonwealth Bank and the Australian Securities and Investment Commission has drawn a line in the sand, holding the banks and financial advisers to account for…
Revelations by whistleblower organisation Wikileaks of secret global negotiations to further deregulate global financial services, has led to speculation that such pact could signal the end of Australia’s…
Over 40% of mortgages in Australia are sold by mortgage brokers, not by their manufacturers - an issue that has the CEO of Australia’s fifth largest bank, Suncorp, arguing the sector is skewed towards…
A plan by US regulators to impose greater capital requirements on the nation’s eight biggest banks has prompted complaints it will put the banks at a global disadvantage. The proposal is that the banks…
The extent to which the banking industry is dominated by those who attended private schools has been revealed. A study found 60% of leaders in financial institutions were privately educated. Only 7% of…
Reporting season has delivered another round of record bank profits. Yet, in itself, this is no bad thing. Former Reserve Bank governor, the late Sir Harold Knight, used to quip that profitable banks don’t…
The Australian Securities and Investments Commission has called for more powers, including a broadening of the definition of “whistleblower”, in a paper defending its role as the corporate watchdog. ASIC’s…
The news that Coles may be seeking a banking licence would, if confirmed, put the supermarket group and its parent company Wesfarmers in direct competition with Australia’s major banks. It would allow…
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Professorial Fellow, University of Canberra
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Executive Director, Australian Centre for Financial Studies
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Professor of Innovation and Entrepreneurship, Associate Dean (Teaching), Director of the Glendonbrook Institute for Enterprise Development, Loughborough University
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Professor of Finance, The University of Melbourne