Westpac now has significant problems with more high powered regulation globally for the next four years given its obvious already well flagged problems with governance, risk and compliance.
Now a lot more will be expected of Peter King, his executives and what they are doing with governance, risk and compliance.
They might face an existential crisis if they continue to get it wrong. They might need to spend the next four years just getting governance, risk and compliance and focused on avoiding regulatory scandal.
The Four Pillars Policy may not save Westpac given its evident governance, risk and compliance scandals IMHO.
WBC Price at posting:
$17.77 Sentiment: Buy Disclosure: Not Held
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