In The Global Financial Crisis Of 2008 The Spotlight Was On Corporate Governance Tha 2813198
2,300-2,500 words in total (assignments exceeding the word limit may not be marked and may be returned to the student for re-writing; assignments less than the required length will risk not covering the topic adequately and may result in a fail). Do not include synopsis, references or bibliography in the word count.
In the global financial crisis of 2008 the spotlight was on ‘corporate governance’, that is, how companies are regulated by governments and how they are managed internally. At that time Australia’s regulatory system and the way Australian financial institutions managed their businesses were considered to be one of the reasons Australia was in a relatively good position to withstand the crisis. Yet in 2018 the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (‘the Royal Commission’) is conducting hearings and considering the conduct of some of these same Australian financial institutions (banks and other financial service providers), including their compliance with both Australian law and community standards, together with the sufficiency of the current Australian legal and regulatory structure.