APRA and ASIC have the legal power to sack bank heads, but they need willpower
- Written by Andrew Schmulow, Senior Lecturer, Faculty of Law, University of Western Australia
The chairwoman and CEO of AMP have resigned after the company admitted to charging for advice never provided and lying to clients and regulators. But no banking CEOs have been toppled despite the Financial Services Royal Commission unearthing instances of fraud, bribery, impersonating customers, failures to report misconduct to regulators and...