banking misconductBanking misconduct: Justification for change

by Christine Williams

In a fresh approach to the snags for the unwary being uncovered by the current Royal Commission into the financial services industry, one group of Economics thinkers has proposed an innovative proposal. The group of eleven – mostly former economists, educators, unionists and bureaucrats – has suggested a more trustworthy way forward. Their proposal addresses the commentary on malpractices, and offers an alternative corporate culture for the industry to avoid future banking misconduct. It would be based on financial corporations taking account of the interests of consumers, employees and the wider society, rather than merely managers and shareholders.

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