All posts tagged "incentives"
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588Australia & NZNew Zealand Proposes Ways to Improve Banking Conduct, Culture
The proposed measures will put the consumer at the heart of decision-making and make good outcomes the bottom line, says Commerce and Consumer Affairs Minister Kris Faafoi.
May 1, 2019 -
309Australia & NZNew Zealand Financial Services Bill Puts Client Interests First
New Zealand has passed new legislation enabling a new framework for regulating financial advice. The new regime will come into effect in the first half of 2020.
April 10, 2019 -
739FeatureThe MAS Approach to Cultivating Ethical Culture in Banking
MAS emphasises incentive structures as the key to driving ethical behaviour and encourages banks to adopt good practices highlighted in a new information paper.
March 29, 2019 -
749Hong KongHKMA Urges Banks to Foster Sound Culture – Speech
In a keynote address this week, HKMA executive director Alan Au discussed the three pillars of bank culture reform, progress at banks, and new initiatives to drive culture reform forward.
January 18, 2019 -
811Feature
HKMA to Require Banks to Report on Culture Reform
First phase of bank culture self-assessments will cover about 30 institutions, including all major retail banks and selected foreign bank branches.
December 20, 2018 -
424Australia & NZRestoring Trust in Financial Sector Essential for Economic Prosperity – RBA
Strengthening trust in Australia's financial institutions requires better incentive systems, clearer lines of accountability and stronger penalties for misconduct, said RBA governor Philip Lowe.
November 23, 2018 -
354Australia & NZNew Zealand Banks Must Address Risks from Sales-Linked Incentives – FMA
The FMA expects banks to change sales-linked incentives, or explain how they will strengthen controls to address the risk of inappropriate sales.
November 19, 2018 -
478Australia & NZAustralian Financial Sector Condemned in Royal Commission Interim Report
The report says financial institutions have had free reign to pursue their own interests at the expense of customers and regulators have been ineffective in policing their behaviour.
October 1, 2018 -
285Australia & NZAussie Banks Move to Reform Mortgage Broking Sector
Volumed-based bonus payments for mortgage brokers and other incentives to be abolished; new industry code of conduct prioritising customers’ interests expected by year-end.
August 30, 2018 -
300Australia & NZ
New Zealand FMA Work Plan to Focus on Conduct, Culture
New Zealand’s Financial Markets Authority expects firms to put customer interests first; work plan to focus on conduct, culture, governance.
August 16, 2018
