Banking Royal Commission

Discussion in 'Four Corners' started by The Vaulting Violinist, Feb 13, 2018.

  1. Parra

    Parra Coach

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    Yes. Cutting it's budget won't solve anything. We will just pay less for the same performance. Clear objectives and great leadership is always a good start.
     
  2. Mr Spock!

    Mr Spock! Coach

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    A good start?

    ASIC is accountable to the government - no and its governance appointed by government..

    Its the government which is responsible for ASIC's lack of teeth.
     
  3. Parra

    Parra Coach

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    The culture of the bureaucracy doesn't change like that. Governments come and go, the culture of the bureacrats endures.

    This has nothing to do with the government of the day.

    Otherwise we could solve our problems by simply voting. The stuff being mentioned in this RC is not new. It isn't political.
     
  4. Jimbo

    Jimbo Immortal

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    I did allow myself a mild chuckle on Thursday night when Bill tried to link the evil big four banks to ASIC

    One would think that a former financial services minister would know that banks are regulated by APRA
     
  5. Parra

    Parra Coach

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    And where the 4 pillars policy came from
     
  6. magpie4ever

    magpie4ever First Grade

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    I see you are still mentally disabled, there Parra.

    You f**king lunatic.
     
  7. cerberus

    cerberus First Grade

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    So your voting for shorten then .
    Good call
     
  8. cerberus

    cerberus First Grade

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    Asic is australia's corporate regulator .
    The banks certainly fall into that catagory .
    But as long as you had a chuckle , then it ok jimmy
     
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  9. Jimbo

    Jimbo Immortal

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    I am well aware of which regular regulates whom. So is Bill

    He's just telling people like you what he thinks you want to hear
     
  10. Parra

    Parra Coach

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    "Anyone but Bill" will be a very effective campaign at the next election.
     
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  11. Mr Spock!

    Mr Spock! Coach

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    Actually it'll be "Anyone but Malcolm"

    Even from his own party.
     
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  12. Mr Spock!

    Mr Spock! Coach

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    Lol...government bureaucracy has nothing to do with government......


    That's news to the government...considering ASIC is answerable to the Minister for Revenue and Financial Services.

    In fact they reviewed ASIC last year......

    https://static.treasury.gov.au/uploads/sites/1/2018/04/ASIC-Enforcement-Review-Report.pdf

    And came up with 50 recommendations!!!!
     
  13. Parra

    Parra Coach

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    For sure. We could have an election where both sides lose.
     
  14. Parra

    Parra Coach

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    Nothing like a good report with 50 recommendations. Bureaucracy loves this. Looks like change. Looks like action. File it and continue on.
     
  15. cerberus

    cerberus First Grade

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    so is asic the corporate regulator . yes or no jimmy ?
     
  16. Jimbo

    Jimbo Immortal

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    Yes

    So does APRA regulate banking and superannuation . yes or no cerb ?
     
  17. Bandwagon

    Bandwagon Moderator Staff Member

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    Yes they do James, they aren't the only regulator though as we know. However much of what has been revealed in terms of poor behavior through this RC, is indeed very much part of ASIC's role to police.
     
  18. Jimbo

    Jimbo Immortal

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    So it was ASIC who just completed a prudentiual inquiry into CBA's "governance, culture and accountability" and added a billion dollars to their capital requirement as a result?
     
  19. Bandwagon

    Bandwagon Moderator Staff Member

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    Deary me, you might have a point James if the RC was looking at the banks capital requirements?

    How many AFS Licences have APRA issued, cancelled or suspended of late?
     
  20. Jimbo

    Jimbo Immortal

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    Deary me, you might have a point bandy if I'd said that APRA was looking into their capital requirements

    I actually said they were looking into their governance, culture and accountability. Or in other words, 'poor behaviour'

    None

    Since when have ASIC issued banking licenses?






    *Hint* I know this stuff. I suggest you back away slowly
     

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