Even for agencies accustomed to public and political scrutiny, it is difficult to remember a time when Australia’s financial regulators have faced so much criticism.
In highlighting breaches of existing norms and laws by financial entities, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry focused attention on how the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have failed to prevent and deter such misconduct.
In a Law Society Journal (LSJ) online article, Arnold Bloch Leibler Senior Associate Liam Cavell writes about the regulator's new enforcement powers and the changed landscape.
Click here to read the full article.
"Whilst some might consider these changes to be merely cosmetic, there are reasons to suggest that a new enforcement landscape is now emerging."
