Australia gives regulator sweeping powers over bank bosses' pay7 Feb 2018—reuters.com
SYDNEY (Reuters) - Australia has given its financial regulator sweeping powers to cap bank bosses’ pays, delay their bonuses and even ban them from the industry if found guilty of non-compliance, as it scrambles to restore trust in the scandal-hit sector.
The move underscores the immense pressure on the government of the world’s No.12 economy to keep a tight grip on an industry which, in recent years, has faced accusations of withholding legitimate health insurance payouts, giving misleading...