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The banking regulator has vowed that enforcement action against companies or individuals will no longer be a "last resort" and it will instead be "constructively tough" when dealing with serious risks to the financial system.
The Australian Prudential Regulation Authority (APRA)'s pledge to take a harder line comes after the Hayne royal commission criticised financial regulators for being too timid, and an internal review found its appetite for enforcement had been too low and was lagging its global peers.
Read more at the Brisbane Times.