subscribe to our newsletter sign up

Commonwealth bank inquiry panel announced

APRA, Wayne Byres, Commonwealth Bank. CBA, CommBank, bank governance, bank culture, John Laker, Jillian Broadbent, Graeme Samuel,

The three people who will oversee the recently announced inquiry into the Commonwealth Bank's governance practices have been announced.

APRA has named Banking and Finance Oath chair John Laker AO, Monash Business School Professorial Fellow Graeme Samuel AC, and University of Wollongong chancellor Jillian Broadbent AO to undertake the inquiry (announced by APRA on 28 August 2017).

“APRA is pleased to have secured the services of three highly experienced and credentialled panel members to conduct the prudential inquiry,” said APRA chair Wayne Byres.

“Between them, John, Graeme and Jillian bring an excellent blend of skills and experience to the task, including in matters of corporate governance and organisational culture.”

Additionally, the regulator said it had four key goals for the inquiry, namely to identify any organisational drivers of bad governance and culture, to assess whether organisational structure, financial objectives or remuneration are conflicting with sound management principles, to consider whether CBA’s own initiatives are enough, and to recommend how any issues should be rectified.

“The Prudential Inquiry should not make specific determinations regarding matters currently the subject of legal proceedings, other regulatory reviews or investigations by regulators other than APRA, or customers’ individual cases,” APRA said.

Commonwealth bank inquiry panel announced
nestegg logo
Promoted Content
Recommended by Spike Native Network
TimP - “You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another.......
Chris - That last line is the best explanation of the Labour Governments approach to managing "our money" that I have ever heard...." Cutting the pie into.......
Anonymous - To complain that the tax cuts will negatively impact on future expenditure on education, where the more that has been spent on education the worse the.......
Ralph - How are they being "paid for it" by younger generations? They paid for it with the taxes they paid from a lifetime of working.....