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A decade later, the royal commission came to the same conclusion that was reached during the GFC about the impact of conflicted remuneration structures on culture and conduct, a senior official at the Banking and Finance Oath has said.
Speaking at the Governance Institute of Australia’s Governance and Risk Management Forum in Sydney on Tuesday (18 June), Dr John Laker, chair of the Banking and Finance Oath, noted that the financial services royal commission, 10 years later, came to the same conclusion that was reached during the global financial crisis – that is, remuneration structures have been “promoting behaviours and outcomes that were inconsistent with sound risk management and the best interests of customers”.
Read more at The Adviser.