Aussie bank chiefs could face pay delays after wave of scandals
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Sydney
AUSTRALIA'S top bankers including Andrew Thorburn, Shayne Elliott and Brian Hartzer would have almost half of their pay deferred for four years under proposed laws to clean up the country's scandal-ridden financial services industry.
Executives and board members earning A$500,000 (S$541,355) or more will have to defer a portion of their remuneration under the Banking Executive Accountability Regime Bill announced by Treasurer Scott Morrison. Slated to start next July, the measures will demand greater clarity on the accountability obligations of banks and their key personnel, and bolster penalties for breaches.
Share with us your feedback on BT's products and services
