Another Argument Against Banking Royal Commission Blown?

Mainstream business media in the United Kingdom are now reporting serious, systemic Australian banking misconduct.

The BBC report http://www.bbc.com/news/business-37127579 highlights that the ‘cat is out of the bag’ in relation to misconduct.

It appears that if the Australian Government does not act by implementing a banking Royal Commission, overseas litigators are gearing up to feast upon the malfeasance.

Given the Commonwealth Bank of Australia (CBA) have reportedly engaged in much alleged misconduct, CEO Ian Narev faces a major strategic challenge in terms of responsibility to the business in it’s shareholders.

Prior to becoming CEO, Ian Narev was a key figure in the acquisition of Bankwest in 2008 on behalf of the CBA, which resulted in 1958 business loan customers facing insolvency action by the bank.

The conduct of Commbank will be under increasing scrutiny during the Bankwest Class Action.

 

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s