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'Not scared': Australian regulator takes aim at powerful banks

Reuters  |  SYDNEY 

By Swati Pandey and Tom WestbrookSYDNEY (Reuters) - Australia's corporate regulator on Tuesday took aim at the nation's four major banks, saying they suffer from "a lot of hubris" and are not used to being taken on by regulators who have recently stepped up scrutiny of the scandal-hit sector.Australian Securities and Investment Commission (ASIC) Chairman Greg Medcraft said improving the culture and conduct of the biggest banks is one of his "unfinished businesses" as he prepares to step down in November."I think the big banks are extremely powerful in this country," Medcraft said at a Reuters ...

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First Published: Tue, September 12 2017. 11:31 IST