Champion governance excellence in the financial services
Why you should strengthen your governance capabilities
Put the financial services industry in the spotlight for the right reasons
- Weak and ineffective governance linked to massive financial services industry failures that led to the global financial crisis.
- The financial services royal commission made it clear that that every financial services organisation, whether named or not, must look closely at its governance and culture. Its disruptive inﬂuence will be felt for years to come.
- The royal commission and the APRA Inquiry into CBA, reinforced that supervision must extend to include non-financial risks, and must include culture, governance and remuneration.
- The Banking Executive Accountability Regime (BEAR) aims to ensure banks and their senior executives and directors are held accountable when they fail to meet community expectations. The Australian Prudential Regulation Authority have stronger powers to remove and disqualify senior executives and directors and through new civil penalties.
- Scope and product responsibility will change with the Financial Accountability Regime (FAR). The focus will be on wholesale client environment, not retail.
Download the banking and financial services sector brochure