Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

16 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

Banks, behaving badly
blacksheep
post Posted: Aug 7 2019, 02:28 PM
  Quote Post


Posts: 6,125
Thanks: 2192


'Dills': Graeme Samuel raises concerns on bank boards
QUOTE
Bank directors regarded as "dills" by their peers remain ensconced on the boards of the nation's largest financial institutions, former top regulator Graeme Samuel has claimed as he warned the sector had failed to heed the lessons of the Hayne royal commission

In a speech to be delivered on Wednesday, the former chairman of the Australian Competition and Consumer Commission (ACCC) will also criticise regulators and major accounting firms for allowing auditors to provide independent audits and lucrative consulting services, which he views as an "inherent conflict of interest."

https://www.smh.com.au/business/banking-and...52egp.html?btis



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 5 2019, 03:14 PM
  Quote Post


Posts: 6,125
Thanks: 2192


Little Relief In Sight For Banks
Australia | 12:07 PM

QUOTE
Australia's banking sector is under pressure amid soft loan growth, a squeeze on margins and a reinvestment burden. Brokers are not yet factoring in much of a recovery.

-Too early to be confident in a post-election rebound for the banks
-Borrowers likely to use lower interest rates to reduce existing debt
-Action to support bank share prices may be viewed favourably

By Eva Brocklehurst


read more - https://www.fnarena.com/index.php/2019/08/0...ight-for-banks/




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 24 2019, 02:30 PM
  Quote Post


Posts: 6,125
Thanks: 2192


Extract - Why the best performing hedge fund is selling
QUOTE
LHC is also shorting the Australian banks due to "declining return on equity in a low credit growth environment with unsustainable payout ratios".

https://www.afr.com/business/banking-and-fi...20190723-p529t2

Shortman
THE BIG FOUR BANKS (ANZ, CBA, NAB, WBC)
This graph shows the total dollar amount of all shorted shares on the big four banks, which together dominate the banking market share in Australia.
https://www.shortman.com.au/market




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Jul 11 2019, 10:48 AM
  Quote Post


Posts: 6,125
Thanks: 2192


APRA forces NAB, Westpac, ANZ to hold extra $500m each in capital due to culture, governance concerns
QUOTE
The financial regulator will force National Australia Bank, Westpac and ANZ Bank to each hold an extra $500 million in capital due to problems with their governance and culture.

The Australian Prudential Regulation Authority (APRA) on Thursday said it was slapping on the extra capital requirement in response to the bank's "self-assessments" of how they managed "non-financial risks
."
https://www.smh.com.au/business/banking-and...711-p5265y.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 24 2019, 11:53 AM
  Quote Post


Posts: 6,125
Thanks: 2192


Citi fires eight Hong Kong traders after review finds misconduct: sources

QUOTE
Global banks have been beefing up compliance procedures in Hong Kong, as the securities regulator in the Asian financial hub has stepped up its crackdown against failures to comply with guidelines for equities trading and underwriting functions.

Last week, the regulator banned UBS from leading IPOs in the city for a year, while fining it and rivals, including Morgan Stanley, a combined $100 million for due diligence failures on a series of stock listings.

https://www.reuters.com/article/us-citigrou...s-idUSKCN1R40AE



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 20 2019, 09:12 PM
  Quote Post


Posts: 6,125
Thanks: 2192


Some questions being raised by Greens senator Peter Whish-Wilson at the Senate estimates on Wednesday evening - tonight.

ASIC boss James Shipton faces questions over former Goldman Sachs role and 1MDB scandal.

ANZ also gets a mention- https://www.theguardian.com/world/2019/feb/...nd-1mdb-scandal

QUOTE
Whish-Wilson was also expected to raise questions about another Australian connection to the 1MDB scandal. Malaysian investigators have unearthed new details about irregularities with a bond sale carried out in 2009 for a precursor of 1MDB by a Malaysian bank called Am Bank, which is 24% owned by the Australian bank ANZ.

According to a recent report by Bloomberg, the 2009 bond sale arranged for TIA involved bonds being sold at a large discount to insiders which were then quickly resold – some of them on the same day – at a large profit.

Low Taek Jho, the fugitive Malaysian financier believed to be behind the 1MDB scam, was also allegedly the mastermind of the TIA scheme and reportedly profited from it to the tune of $126m.

Sarawak Report, the campaigning group that first exposed the 1MDB scandal, says Am Bank was involved in the bond sale “every bit of the way” and therefore ANZ has a case to answer about why the alleged corrupt dealing went ahead.

Clare Rewcastle Brown, of the Sarawak Report, said: “It makes [ANZ’s] position every bit as awkward as that of Goldman Sachs, which performed a similar role during the later bond issues by 1MDB leading to investigations by the FBI leading to criminal charges from Malaysia as well.”

It renewed calls for an investigaton by Asic into Am Bank’s involvement.

ANZ declined to comment.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Feb 7 2019, 01:22 PM
  Quote Post


Posts: 6,125
Thanks: 2192


In Reply To: blacksheep's post @ Feb 6 2019, 10:07 PM

QUOTE
Speculation in the media and being fuelled by Labor about potential insider trading in bank shares on Monday ahead of the royal commission report's public release is, in the words of one well-placed official source, almost certainly "bulls--t".

https://www.afr.com/markets/bank-royal-comm...20190207-h1aye1

No one ever seems to provide the names of these "well placed sources" - on both sides of the fence



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 7 2019, 09:22 AM
  Quote Post


Posts: 6,125
Thanks: 2192


In Reply To: triage's post @ Feb 7 2019, 07:01 AM

The regulator should have been alert to the possibility of a leak, watching trading action and issuing a "speeding ticket" - just the same as they do with penny dreadfulls - but they didn't sadsmiley02.gif Just IMHO



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
triage
post Posted: Feb 7 2019, 07:01 AM
  Quote Post


Posts: 3,743
Thanks: 1498


In Reply To: blacksheep's post @ Feb 6 2019, 10:07 PM

Yeah I doubt it would have come out of the lock-up. More likely it came from a polly or one of their staffers who would have been poring over and discussing the report for the entire weekend. Sometimes it's not what you say but what you don't that conveys the message. Shameful that they did not release the report on Sunday night. So obvious what they were setting up.



--------------------
"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
blacksheep
post Posted: Feb 6 2019, 10:07 PM
  Quote Post


Posts: 6,125
Thanks: 2192


In Reply To: blacksheep's post @ Feb 6 2019, 01:40 PM

Labor calls for leak investigation
QUOTE
The debate over more sitting days to deal with the banking royal commission's findings comes as Labor also demands an investigation into whether its final report was leaked early.

The Federal Government released Commissioner Hayne's report at around 4:20pm on Monday, after the share market had closed.

But Shadow Financial Services Minister Clare O'Neil has written to the head of the Prime Minister's Department to investigate whether it remained under lock and key until then.

A lock-up for media and other interested parties to pour over the report under embargo began at 1:00pm Canberra time on Monday.

"At approximately 11:00am on Monday traders plunged half a billion dollars into bank shares; an investment which turned a $22 million profit within just 24 hours, thanks to the unexpected increase in the value of bank shares when the market reopened on Tuesday morning," Ms O'Neil wrote to Dr Parkinson on Wednesday.

"Given that the lock-up commended at 1:00pm — two hours after this activity on the ASX — and the Hayne report was in strictly limited circulation for a number of days within the Government prior to its official publication, I ask that you investigate whether information was leaked by a Ministerial Office, a Minister or a member of the Australian Public Service prior to its publication."

Some have suggested the banks got off fairly lightly from the royal commission's final report, despite the damning testimony heard during the hearings.

On Monday night, Treasurer Josh Frydenberg was asked about the activity on the market and whether the big banks got a briefing that morning.

"Absolutely not. There was a lock-up and there were security guards around Parliament House," he told the ABC's 7:30 program.

"There was obviously Treasury officials and it was very, very closely monitored.

"The only people who were allowed into the lock-up were stakeholders and, when it came to the banking industry, it was by their representative body and, of course, senior journalists."

https://www.abc.net.au/news/2019-02-06/cros...nquiry/10787536



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


16 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING