Revelations during the inquiries have rocked the industry, knocking back the shares of ANZ, Westpac, Commonwealth Bank of Australia and National Australia Bank over the past year. Photo: ODTThe Australian banking Royal Commission has called for tougher regulation, more scrutiny of pay and has made 76 recommendations to overhaul the industry. Australian Treasurer Josh Frydenberg slammed a the banking culture which he said had "broken businesses" and the stress and personal pain that had "broken lives". It comes after a long-running inquiry into the misconduct in the Australian banking industry. Revelations during the inquiries have rocked the industry, knocking back the shares of ANZ, Westpac, Commonwealth Bank of Australia and National Australia Bank over the past year.

Source: Otago Daily Times February 04, 2019 06:11 UTC