May 4, 2018 / 8:25 AM / 8 months ago

TAKE A LOOK-Australia's financial services sector under scrutiny

Australia's scandal-plagued financial services sector, the country's greatest
contributor to GDP, is engulfed in a year-long misconduct investigation that has
powers to subpoena evidence and question executives of its largest firms. 
    The Royal Commission, as the inquiry is called, began in February, following
a string of scandals involving rate-rigging, money laundering, and unethical
conduct in wealth management and insurance. 
    For related Reuters coverage, please see:
> Australia's banks face year of reckoning as inquiry shreds trust             
> ANALYSIS-How shocks from banks' inquiry may squeeze a nation                 
> Australia's AMP feels shareholder wrath over misconduct                      
> Australia's Coca-Cola Amatil says AMP ex-chair to leave board                
> ANZ cuts financial planner bonuses as inquiry reshapes industry               
> Australia's CBA settles with regulator over rate-manipulation                
> Commonwealth Bank says records of nearly 20 mln accounts lost                
> New Zealand asks banks whether tainted by Australian misconduct              
> ANZ flags slower revenue growth, cites bank inquiry impact                   
> CBA ordered to boost capital until governance failings fixed                 
> Australian banks at risk if house prices slump - Fitch                       
> Australia PM: 'would have been better' to order inquiry earlier              
> Australia inquiry finds AMP conduct 'unconscionable'                         
> Westpac defends mortgage book as inquiry reveals poor controls               
> NAB reviews advice business as inquiry exposes misconduct                    
> Australian govt under pressure over bank revelations                         
> Lost home, fees for the dead -Australia banking inquiry hears                
> CBA shakes up executive team amid inquiry                                    
> Australia's big banks broke laws, failed public, inquiry reveals             
> Australian inquiry turns up heat on Westpac's car-finance unit               
> CBA in widespread insurance mis-selling, inquiry finds                       
> ANZ reviewing retail asset finance business,decision by end-Sept             
> Australian probe of bank-sector begins with focus on home loans              
> Australian regulator backs tougher penalties                                 
> Australia: bank execs responsible for misconduct could face jail             
> Australian business tax breaks at risk over bank inquiry                     
> Australia's competition watchdog to review banking oligopoly                 
> Australia gives regulator sweeping powers over bank bosses' pay              
> Regulator starts legal action against CBA over rate-manipulation             
> CBA surprises with internal CEO hire                                         
> Westpac says Big Four banks are not 'highly profitable'                      
> NAB sacks bankers over home-loan inaccuracies                                
> Australia banks tighten mortgage checks amid govt inquiry                    
> Westpac was a lead actor in rates rigging, regulator tells court             
> ANZ in last-minute settlement with regulator over rate rigging               
> Heads roll at Australia's CBA amid money-laundering scandal                  
> Australia's Senate votes for bank inquiry, pressuring government             
> FACTBOX-Australian Royal Commissions                                          

 (Reporting by Paulina Duran; Editing by Himani Sarkar)
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