The Senate committee singled out Macquarie Private Wealth for extra attention, but said the Australian Securities and Investments Commission should also re-examine other financial businesses that have been of concern.
"These actions were facilitated by a reckless, sales-based culture and a negligent management, who ignored or disregarded non-compliance and unlawful activity as long as profits were being made," the Economics Committee chairman Senator Mark Bis
The LDP-led government began tightening regulations in consumer lending in 2006, as millions of individuals and small firms took on debts they couldn't repay and as criticism grew over the menacing methods used by some to collect debts.
Regionally, 29% of the promotions are in Asia Pacific; 32% are in Europe, Middle East and Africa; 14% in Latin America; and 25% in North America. 28% of those promoted to partner are women.
The Philippines’ top publicly listed corporations have improved their corporate governance practices over the past year but they need to work harder to catch up with peers from Singapore, Thailand and Malaysia, according to the Asean corporate gover