Almost half of all shareholder votes opposed AMP’s remuneration report on Friday,amid concerns about how the company set executive bonuses.
The episode could have longer-term repercussions for the government’s relationships with key crossbenchers,and has left a blot on its dealings with the banking and finance sector.
Treasurer Jim Chalmers says the government will take more time to consult on the details of the legislation that was pulled from the Senate this week.
Laws introducing fines for dodgy finance executives have been shelved after several bank bosses expressed their surprise and disappointment.
Banking executives will cop fines of up to $1.1 million if they turn a blind eye to the kind of misconduct uncovered by the Hayne royal commission.
The corporate regulator has warned companies against dragging the chain on remediating customers,having overseen at least $5.6 billion in compensation to victims of dodgy financial practices over the past six years.
The watchdog has raised concerns that insurers may have been unnecessarily putting customers who are making mental health claims under surveillance.
CBA boss chief Matt Comyn says the bank’s success led to complacency,ignorance and arrogance within its ranks.
A total of 499 dead members were charged almost $700,000 in adviser service fees by Avanteos Investments Limited.
Ken Henry has revealed a litany of failures at the bank while delivering a scathing assessment of Australia’s stakeholder capitalism.
After the 2019 federal election,house prices lifted. This time,a downturn is far more likely,with interest rate rises predicted to hit mortgage holders.