APRA slammed as timid "behind the scenes" regulator with cultural problems

Source: APRA Capability Review

An independent review is urging the overhaul of the Australian Prudential Regulation Authority slamming it for a poor culture and variable leadership.

In a proposed shakeup of the often secretive prudential regulator, a three member panel chaired by former competition czar Graeme Samuel says the prudential regulator needs tougher penalties, a greater focus on superannuation and the ability to veto the appointment or reappointment of company directors. 

ABC's Peter Ryan analyses the report on AM

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