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 News15 hours agoGippsland vegetable farm accused of underpaying migrant workers
-
General16 hours agoFour escape injury after jumping from three-storey unit on fire in Newcastle
-
Noosa News16 hours agoThe Best Things to Do in Brisbane This New Year’s Eve
-
Noosa News20 hours agoMary River cod thriving in Brisbane River catchment, century after relative went extinct