Financial sector slow to clean up its act despite royal commission revelations – Business – ABC News (Australian Broadcasting Corporation)

Former NAB superannuation chair Nicole Smith looks down walking outside court

The man running the banking royal commission, Kenneth Hayne, certainly comprehended what was going on when he questioned the head of the trustee responsible for NAB’s superannuation funds.

“Did you think yourself that taking money to which there was no entitlement raised a question of the criminal law?’ he asked.

“I didn’t,” responded Nicole Smith.

Ms Smith’s answer says a lot about the culture of Australian banking, where it seems that profit at any cost is king.

via Financial sector slow to clean up its act despite royal commission revelations – Business – ABC News (Australian Broadcasting Corporation)

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