Friday, February 8, 2019

NAB boss Andrew Thorburn thrown under a bus, but Ken Henry a reluctant casualty

ABC's Peter Ryan says while the departure of NAB chief executive Andrew Thorburn was inevitable, chairman Ken Henry has to be convinced by the NAB board to walk the plank.

Senior government frontbencher Christopher Pyne suspects more bank executive heads could roll as a result of the Hayne royal commission findings.

Bill Shorten says suspect a "coverup" if no convicted banker goes prison

Opposition Leader Bill Shorten says Australians should suspect a coverup if no banking executive convicted of criminal conduct goes to prison. 

The National Australia Bank is in damage control after yesterday's resignations of chief executive Andrew Thorburn and chairman Ken Henry. 

Former labor senator and NAB shareholder Chris Schacht tells ABC's Peter Ryan that in addition the the departures of Mr Thorburn and Dr Henry, the rest of the NAB should consider leaving.

Thursday, February 7, 2019

Labor asks for "please explain" after alleged leak of Hayne Royal Commission final report

The corporate regulator ASIC is under increasing pressure to investigate claims that parts of the Hayne Royal Commission final report were leaked allowing insider traders to make millions. 

Labor and the Greens say there valid suspicions that Kenneth Hayne's final report into the banking sector made its way to some investors before its official release after the stock exchange closed on Monday. 

Treasurer Josh Frydenberg has rejected the allegations saying that all briefings and lockups for the media, stakeholders and regulators were done under strict security to prevent damaging leaks. 

But CMC Markets strategist Michael McCarthy tells ABC's Peter Ryan there is no evidence of  leak to investors.

Monday, February 4, 2019

Hayne pain to rattle banks on Royal Commission day of reckoning

Banks are bracing for possible civil or criminal charges in Kenneth Hayne's final Royal Commisison report to be released after the stock exchange closes today. 

But Dr Kym Sheehan from the Sydney Law School at the University of Sydney warns some in the community might be disappointed if Mr Hayne's recommendations are not as far reaching as anticipated. 

Dr Sheehan speaks with ABC's Peter Ryan.