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Bank Victims

Bank Victims

To the Commonwealth Parliament: Pass Australian Glass-Steagall Bill to break up the banks

The Financial Services Royal Commission’s exposure of banking misconduct and crimes proves that the banks must be broken up. Traditional commercial banking, of taking deposits and making loans, should not mix with investment banking, insurance, stock broking, funds management, financial advice, superannuation, hedge funds and private equity funds.

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Australian Government should be ashamed of past performance on banking sector

If you are a politician, what do you do when your bad judgement — or worse — has been dramatically called out for all to see? That's the question which has faced the Government as appalling behaviour by the Commonwealth Bank, AMP and Westpac has been revealed this week at the royal commission into misconduct in the banking, superannuation and financial services industry.

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AMP CEO RESIGNS OVER SCANDALS

The CEO of AMP, Craig Meller, is stepping down as the financial giant apologies for its conduct revealed in the financial services royal commission. “AMP apologises unreservedly for the misconduct and failures in regulatory disclosures in the advice business,” the company said referencing evidence in the royal commission on the fee for no service issue.

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Former NAB financial adviser banned after 'withdrawing $1.9m in client funds'

A former NAB financial adviser has been banned from the industry for life after allegedly using more than $1.95 million of client money to cover personal and business expenses. Grant Taylor from Montmorency in Melbourne’s north-east was on Wednesday handed a life time ban on providing financial services by the Australian Securities and Investments Commision (ASIC) after an investigation found he "engaged in dishonest and deceptive conduct".

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