The Financial Accountability Regime's laughable track record
Our financial regulators imposed a far-reaching regime that maps accountability across senior staff and directors at banks, insurers and superannuation funds, and was meant to pinpoint responsible persons when things went wrong. The idea being, if an accountable person is more easily identified when issues flare up, their pay can be clawed back or punitive action taken.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a few seconds ago
- Yahoo
British tennis player Kyle Edmund announces retirement after injuries
LONDON (AP) — Former British No. 1 tennis player Kyle Edmund announced his retirement from the sport at the age of 30 on Monday. Edmund won two ATP titles and, in 2018, became only the second British man after Andy Murray to reach the semifinals of the Australian Open. He was part of the Britain team that won the Davis Cup for the first time in 79 years, and also represented his country at the 2016 Olympic Games. Edmund's ascent into the world's top 50 corresponded with a knee injury that required three operations and kept him off the tour for almost two years. 'The last five years have taken a toll with three surgeries and other injuries (and) my body is telling me it's finally reached the end point," Edmund said in a statement issued by the Lawn Tennis Association. 'Looking back I can say I tried my absolute best in my career and my hardest to get back to where I was. There are no regrets whatsoever.' A defeat in the Nottingham Challenger final to Jack Pinnington Jones last month proved to be his last match. ___ AP tennis:
Yahoo
a few seconds ago
- Yahoo
Air Canada CEO said airline "amazed" over unlawful union strike
By Rajesh Kumar Singh and Allison Lampert CHICAGO/MONTREAL (Reuters) -Air Canada Chief Executive Mike Rousseau said on Monday that the airline was "amazed" by the decision of its flight attendants' union to defy the Canada Industrial Relations Board, which has declared the union's strike unlawful. The Canadian Union of Public Employees (CUPE) has said the strike would continue until the carrier negotiates on wages and unpaid work. "We're still amazed by the fact that CUPE is openly not following the law," Rousseau told Reuters in an interview. "And that is very disappointing from our perspective." Asked about plans to resume service, Rousseau said "we're taking this day by day," but stressed that the carrier needs "the flight attendants to show up." He added that the message to the union is "this is an illegal strike. We're harming our customers, we're harming our brand." Rousseau said he believed he is still the right person to lead the company through the tumultuous period and urged shareholders to trust senior management's "expertise and creativity." Some analysts have said shareholders are concerned about the strike and have questioned whether Air Canada is losing more from the stoppage than from settling with the union. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a few seconds ago
- Yahoo
Thoma Bravo nearing deal to acquire software firm Dayforce, source says
(Reuters) -Private equity firm Thoma Bravo is nearing a deal to acquire HR software company Dayforce, a source familiar with the matter told Reuters on Monday. Shares of Dayforce, which has seen its stock lose more than 27% of its value so far this year, were up about 29% in late-afternoon trading. Dayforce had a market value of $8.44 billion as of Friday's closing price. Dayforce offers a cloud-based human capital management platform that includes payroll, workforce management, benefits, talent management, compliance and analytics. Thoma Bravo has been actively pursuing software acquisitions this year, betting on the build-out of artificial intelligence and the resilience of recurring revenue in a volatile economy. A deal could be announced as early as this week or possibly next week, the source said. Thoma Bravo and Dayforce did not immediately respond to requests for comment. Bloomberg News, which first reported the potential deal on Sunday, said that while the talks were advanced, they could still be delayed or falter. Dayforce beat Wall Street expectations for second-quarter revenue and raised its annual revenue forecast last week, as more enterprises increase use of AI and cloud-based platforms to run day-to-day operations. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
