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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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APRA launches investigation into big 4 bank

By Cameron Micallef · December 17 2019

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Invest

APRA launches investigation into big 4 bank

By Cameron Micallef
December 17 2019

Reading:

APRA launches investigation into big 4 bank

By Cameron Micallef · December 17 2019

Reading:

The prudential regulator has formally commenced an investigation into possible breaches of the Banking Act 1959 against a big four bank.

Westpac is facing allegations against its directors and/or its senior managers breaching the Banking Act – including the Banking Executive Accountability Regime (BEAR) – or contravened APRA’s prudential standards.

APRA will focus its investigation on the alleged matters identified by AUSTRAC (as Westpac took actions to rectify and remediate the issue once it was discovered).

The prudential regulator has imposed a $500 million capital requirement on the bank “to reflect heightened operational risk profile of the bank”.

APRA has now asked the bank to add an additional $1 billion, following a statement in July.

The regulators have also initiated an extensive review program focused on Westpac’s risk governance. “The review program will include risk management, accountability, remuneration and culture.”

APRA deputy chair John Lonsdale said: “AUSTRAC’s statement of claim in relation to Westpac contains serious allegations that question the prudential standing of Australia’s second-largest bank.”

The investigation offers APRA the opportunity to exercise legal powers that have been expanded and strengthened since 2017’s CBA Prudential Inquiry, including enhanced investigative powers and the implementation of the BEAR in 2018.

In a statement to the Australian stock exchange, Westpac group chairman Lindsay Maxsted said: “Westpac accepts the gravity of the issues presented by AUSTRAC.

“As previously stated, these shortcomings are unacceptable, and we are determined to urgently fix these issues and lift our standards.”

Following the allegations against Australia’s second-largest bank, its share price fell by 0.644 per cent to 24.690 shortly after the announcement.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.