Regulations And Prudential Supervision On Commercial Banks

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Chapter 2: Regulations and Prudential supervision on commercial banks

This article discusses Commonwealth bank having a systemic fraud and systemic theft. They are lying to customers and this is a big impact on the customers. The chairman Mark Bishop is struggling to describe the issue since this is a most trusted financial institution (Ferguson, 2014, para. 1).This articles relates to studies from Chapter 2 where it discusses prudential supervision and the regulation of Commonwealth bank because they are not doing the right thing.

The committee is helping Commonwealth bank, financial planning industry and corporate regulator to get back on track because of the fraud that they have done. As it can be seen in the article that the regulator needed to know what he was doing and quickly identify the issue. In October 2008, Jeff Morris notified Australian securities and investments commission (ASIC) about a planner named Don Nguyen covering up the fraud. An official research happened 16 months later and the customers weren’t’ impressed.

Under the Corporations Law, ASIC is responsible in consumer protection and market integrity. Due to financial planning systems, Commonwealth bank has lost a lot of money because of the theft and fraud. They will lose customers as well due to this situation.

Chapter 5: Corporations issuing equity in the share market

This article discusses retirement village operator in Oceania owned funds related with Macquarie Group, is considering public
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