Published: August 24, 2018
Royal commission comes down heavily on the two big banks and Australia’s corporate and financial regulators
National Australia Bank and Commonwealth Bank have been accused of possible criminal offences in a scathing summation of their evidence before the banking royal commission.
Australia’s corporate and financial regulators have also been heavily criticised. Senior counsel assisting the royal commission Michael Hodge QC raised the question of whether they were capable of protecting consumers or commanding respect from the banks they regulated.
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