Australian banksAustralian interest rates

Dead man Byers drags APRA into his funeral pyre

David Llewellyn-Smith
Wednesday 24 July 2019
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Dearly, deary me. APRA is in the fight of its life yet its executive is already dead. At the AFR:

Investors are threatening to vote against bonuses calculated under the prudential regulator’s new executive pay rules, putting them on a collision course with the boards of the major banks.

Former National Australia Bank chairman Michael Chaney said the regulator’s new rules for banking, insurance and super fund executives, released on Tuesday, were a snub to investors.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.