After IAG being taken to Federal Court for regulatory failures and ANZ getting flagged by ACCC regarding the thwarted Suncorp Bank acquisition, it seems that finally the banks and financial services providers must take regulation more seriously than previously.
NAB cutting jobs is making it high risk. without people, the compliance goes to XXXX, and the a,Lunt saved is minuscule compared to the regulatory fines, penalties and compensation that results.
Look at what happened to RBS under Ross McEwen. A leopard never changes its spots.
After IAG being taken to Federal Court for regulatory failures...
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