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.
When did ASIC’s Greg Medcraft learn about the alleged money laundering at the Commonwealth Bank?
AAP
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.
Did ANZ CEO Shayne Elliot let the cat out of the bag on manipulation of BBSW when speaking at the Standing Committee on Economics annual hearing?
Lukas Coch/AAP
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 chairman Greg Medcraft could learn a thing or two from his US counterparts.
Mick Tsikas/AAP
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.
Westpac Chief Executive Officer Brian Hartzer gave excuses for traders behaviour in regards to the BBSW benchmark.
David Moir/AAP
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 attending Westpac’s 199th birthday lunch in Sydney on Wednesday.
Dean Lewins/AAP
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.
Former ANZ chief Mike Smith remains as a ‘non-executive advisor’ to the bank’s board.
Sam Cardwell/AAP
Unethical behaviour by bankers represents a systematic risk to banks, and causes widespread harm.
ASIC Chairman Greg Medcraft and Commissioner Cathie Armour during a Senate Estimates hearing at Parliament House. Medcraft told the hearing ASIC must be a ‘model litigant’.
Mick Tsikas/AAP
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…
There is evidence Australia’s bank bill swap rate was manipulated: so what now for regulators?
AAP/Dan Peled
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…