Corporate cop ASIC to embed staff in big four banks, AMP to fight misconduct

The Australian Securities and Investments Commission will, for the first time, have enhanced powers to embed its enforcement staff into the major banks and wealth manager AMP as part of an "expanded armoury" to fight white-collar crime. 

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The $70 million budget boost for ASIC comes amid fallout from the banking Royal Commission where ASIC has been accused of being "asleep at the wheel" in the fight against corporate misconduct. 

I spoke with Financial Services Minister Kelly O'Dwyer speaks on this morning's AM.