The Senate has initiated an inquiry into the structural separation of the banks, following the Hayne report, and the bill represented to the chamber.
I discuss the critical issues surrounding this with businessman John Dahlsen, who was a director at ANZ for many years. John and I were both mentioned in the Hansard on this topic!
In our last post we had discussed the outcomes of the Royal Commission and I follow up with questions from that post, in the light of new developments.
There are so many compelling reasons to support structural separation, yet there are powerful forces which will resist the concept.
The bottom line is structural separation would be good for customers, good for shareholders, and good for businesses seeking finance; and reduce the structural risks in the banking system thanks to derivatives and too big to fail. So why is structure a dirty word?
This will help you to prepare a submission to the inquiry when its formally sought!
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