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The selection of a conservative former justice of the High Court, Kenneth Hayne, as the sole commissioner of the planned royal commission into misconduct in financial services was announced on Friday,.. read more

A trio of offshore bankers are on the short list for the post of chief executive of Commonwealth Bank. One or two Australian finance executives also feature on a list believed to feature no more than.. read more

Liberty Financial has taken a "strategic stake" in insurance intermediary ALI Group. ALI has not been reliably profitable, though it has traded in the black in recent years. read more

Riding shotgun with big banks over interest-only lending has paid off for APRA. read more

Westpac was "always on both sides of the market", a senior rates trader has explained to a Melbourne court on Friday. read more

The senior Westpac rates trader at the centre of misconduct allegations in the bank bills market told the Federal Court yesterday that he was "probably not all that interested anyway," in much of the.. read more

A Federal Court judge has zeroed in on the case for any "legitimate purposes" afforded to Westpac in its defence against claims by ASIC that the bank engaged in unconscionable conduct in the bank bill.. read more

NAB's rate traders "were judged by [their] P&L outcomes", while the bank was "incentivised to manipulate BBSW" and "maintain yields", two operatives of the bank's treasury told the Federal Co.. read more

Westpac's lawyer gave the audio and chatroom evidence of the bank's traders an entirely different interpretation from the tale of mischief that was presented to the court at the opening of the interes.. read more

Westpac has started its defence against ASIC's allegations of rate fixing with a counter-attack, asserting there were legitimate commercial reasons for Westpac's trading on each of the days in questio.. read more