Business
APRA gives Westpac a kick up the backside – The Australian Financial Review
Westpac itself revealed the depth of the prudential regulator’s frustration with a risk management turnaround that simply isn’t happening fast enough.
So instead, it was left up to Westpac to break it down for investors.
The prudential regulator had found much more than just a few liquidity breaches in a review of Westpac’s governance that it launched in December 2019, shortly after news broke of the AUSTRAC scandal that would soon cost the jobs of then chief executive Brian Hartzer and chairman Lindsay Maxsted.
Rather, as Westpac admitted in its announcement on Tuesday, APRA found the bank “has an immature and reactive risk culture, unclear accountabilities,…
-
Noosa News18 hours agoInvestigations underway after dead body found on Townsville road
-
General23 hours agoExtermination efforts continue after invasive ghost snail detection at Port of Brisbane
-
Business23 hours agoI think these are two of the best ASX ETFs to buy in 2025
-
General24 hours agoAustralia’s Iran embassy staff leave after US warning