Pat McConnell

ASIC lacks bite as the UK chews down

1 comment
Greg Medcraft's warning to SMSFs on financial spruikers is cold comfort for super holders. A regulatory clampdown by his UK counterpart shows just how weak ASIC's stance is.

The bank claims genie is out of the bottle

The rise of claims management companies has seen the private legal sector take bank regulation into its own hands. But rampant litigation is no way to run a financial system.

Setting a better trap for financial fixers

3 comments
In contrast to a recent Storm Financial settlement, Wingecarribee vs Lehman Brothers shows that regulators can nail the perps. We must give ASIC, APRA and co more backing.

New APRA proposals are risky business

2 comments
Treasury's consultation paper on APRA powers contains proposals which could leave taxpayers at greater risk of picking up the cost of a bank bailout.

A false dawn for bank regulation?

4 comments
There's little evidence APRA investigations are improving the behaviour of Australian banks, despite ample evidence of problematic behaviour since the GFC.