Press Release: Margins Regulators and Misdeeds Weaknesses

press release: For 11 months its public hearings shocked the country and wiped more than 60 billion Australian dollars 43.4 billion from the country's top financial stocks as investors factored in the prospect of tougher regulation, higher compliance costs and thinner margins, according to The Japan Times. Regulators were also grilled by the commission's barristers about why they seemed reluctant to crack down on wrongdoing and closed investigations with little more than a mildly worded press release. The big banks, insurers, pension funds and regulators who oversee the financial industry are bracing for a brutal summary of their misdeeds and weaknesses, and a list of tough recommendations including possible criminal charges. ; The Royal Commission was a quasi-judicial independent body led by a former high court judge that was tasked by the government, reluctantly at first, with investigating financial sector misconduct following a string of banking scandals. There will be nothing positive in the recommendations because the banks have clearly breached various obligations in the laws, and obligations to good customer service, said Matthew Wilson, a banking analyst at Deutsche Bank. Rather, it will deliver a list of recommendations for the government to consider. The Royal Commission cannot directly order prosecutions or penalties. (news.financializer.com). As reported in the news.