“In November last year, after much resistance, the government had a change of heart and finally announced a Royal Commission (RC) into the banking sector (let us put to the side for the moment that the government made this announcement shortly after receiving a request from the big 4 banks to do so).

I looked briefly at the case studies the Inquiry analysed, and noted the observation therein that ASIC had been viewed as a ‘timid and hesitant regulator’.

I am embarking on a research project that carefully examines ASIC’s powers, processes and conduct, and you will be able to read more about that here as I progress.

“There is a constant flurry of commentary in the media regarding our banks - scandal about banks manufacturing defaults under customer loans; changing the goal posts on customers without any proper basis whatsoever; inherent banking culture issues; remuneration of executives; and the nature of statements and submissions made by the CEOs of the Big 4 banks at recent parliamentary Inquiries and Reviews.