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 News21 hours agoTributes for woman allegedly mowed down on footpath in Maroochydore; Guilherme Dal Bo charged
-
General19 hours agoMan refused bail charged with depicting Adolf Hitler and Nazi symbols on boat
-
General14 hours agoTwo people arrested after man fatally shot at McLaren Flat
-
General7 hours agoThe one tweak that could grow your super by $200,000