On Breakingviews - Macquarie is an unlikely target for pay reform, says AlecMac11
A pedestrian walks past the logo of Australia's biggest investment bank Macquarie Group Ltd which adorns a wall on the outside of their Sydney office headquarters in central Sydney, Australia, July 18, 2017. Picture taken July 18, 2017. REUTERS/David Gray
A sweeping 2018 inquiry into financial misdeeds triggered an overdue crackdown on Aussie banks. The Royal Commission into financial services pushed regulators to clamp down on everything from prosecutions to executive pay. The Australian Prudential Regulation Authority on Wednesday proposed new remuneration rules to improve accountability and manage risk across banks, insurers and retirement plans, which will come into force in 2021.
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