Liar loans shrink from royal commission spotlight
Updated
A royal commission into corruption in the banking industry has recommended stripping hundreds of executives of their bonuses if their financial crimes were not caught, because most of them are still in lucrative positions at banks.
Key points: $4bn of bonuses given at BHP Billiton
About a quarter of senior executives given cash bonuses
One senior executive given $100,000
The findings of the inquiry into senior executive pay, known as royal commission, have been made public through government documents.
This latest royal commission will give new meaning to the phrase “cash for votes”.
It also sets out how much money must be paid out if bankers are found guilty of seriou우리 카지노s financial crimes.
The commission will report back in OctCDC 철도청 카지노ober 2015.
In 2014, the financial regulator Australian Securities and Investments Commission published its own report into the pay arrangements of banking executives, recommending $4 billion to be given back to taxpayers.
This is based on a review of pay packages that were given out by major banks.
It suggested that the average bonus of BHP Billiton CEO Howard Archer and its chief executive Peter Clark were $100,000 each.
The committee is recommending the total compensation of senior bankers should be $17.8 billion in total, of which $13.9 billion will be paid back to the Government each year.
The bank is among the big five financial services providers in Australia and has been in the spotlight since the collapse of BHP Billiton.
But critics of the banking industry say that with much of the banking industry’s profits coming from the banking sector, this is less than desirable.
“This is another illustration of a large, profitable bank that’s being squeezed and squeezed on every one of their key personnel and resources to the extent that they are not paying their fair share in their compensation packages,” said Senator Nick Xenophon.
“While I’m happy to see the Australian Government give their own employ여수출장안마ees some measure of help, this royal commission shows that we should not take the money from the banks and give it to our country.”
The Senate inquiry will examine how compensation can be paid back, and how to improve Australia’s business climate.
A spokeswoman for BHP Billiton says there are not any specific issues at the company, but has released some of the bank’s documents, including the board’s own accounting of its pay packages.
Topics: banking, industry, business-economics-and-financ