Jaw dropping moments from Australia’s Royal Commission
By Kirsten Hastings, 20 Apr 18
It’s squeaky bum time for senior executives as Australia’s banking, superannuation and financial advice firms face the intense scrutiny of a Royal Commission. Click through the slides below to read some of the incredible moments from the first week of the review into financial advice.
During one particularly testy exchange, the head of CBA’s private bank, Marianne Perkovic, was cautioned by commissioner Kenneth Hayne to respond to the questions posed by the senior counsel assisting the commission, Michael Hodge QC.
Hayne intervened after Perkovic gave a non-answer a question from Hodge.
Following the reprimand, she gave a convoluted response when Hodge asked if she was trying to pre-emptively explain why it took the company so long to inform the regulator of these issues, which raised the commissioner’s hackles.
“Ms Perkovic, I do not regard that as answering counsel’s question. Please ask the question again,” Hayne said.
“I want you to listen to it and I want you to answer it directly as you can.”
Tags: AMP | Australia | CBA | Royal Commission
