A culture of leniency. Exposing wrongdoing or protecting wrongdoers?

Corporate regulator ASIC allows distorted bankers to walk free and ignores Robodebt, the Anti -Noching Corruption Commission (NACC). Paul Begley Tolerance is in our culture.

In September 2025, he took part in the Australian Securities and Investment Commission (ASIC) officers, Parliamentary Common Companies and Financial Services Committee. Subject first focused Anz Bank was given a 240 million dollar penalty For a period of two years for a series of violations, including market manipulation and indisputable behavior.

He blames many problems from suspicious processing of government bond sales to pricing fees, to the deceased customers.

Tania Lawrence MP and Senator Barbara Pocock stated that the sentence would be levels as an entity against Anz, and they pressureed the ASIC officials about why the accusing individuals were not identified and followed. Lawrence observed that Anz fired some of the people who signed confidentiality agreements about leaving.

The committee members wanted to know if they wanted to know if they could give an idea of ​​who was responsible for some Anz violations of the conditions of ASIC’s NADAs.

Angira Bharadwa from Australia Financial Review Notified ($) Anz President Paul O’Sullivan claimed that Commonwealth made a claim that Joe Longo, the President of ASIC, stating that a loss of 26 million dollars was a loss of $ 26 million.

As the Chairman of the Departure, Mr. Longo referred to various answers to the problematic problems related to intention while following individuals for abuse, and at the same time, in a bank of Anz’s size, 2017-19 made it very difficult to determine the error in relation to the repeated Royal Commission.

Corporate Hour-Wedding ASIC FULLY BASING AND BASING

In addition, some leaving executives away from the bank with large bonuses, he said. Their great salaries were a reflection of their responsibility weight. For example, the chair of the retail department, where customers have been defrauded since 2022, earned $ 2.4 million annually and retired with a bonus of $ 900,000.

Longo doctrine

The President of the ASAS, who has been pressing on individual responsibility and accountability for a while, reminded the committee members a fundamental philosophical point they see incomplete:

In Australia, we do not prohibit people from their employment, we do not send them to jail lightly, we do not punish them slightly or ruin their reputation.

Apparently, it is not the Australian way to cancel the golf club memberships, to carry their children from private schools or to launch their leisure boats.

However, a bandit gang that peels the small cash tank does not obtain such protection. The threat of a gang member threatening the staff, evacuating Till or driving the escape car, each tends to spend time in a prison cell as necessary.

Nevertheless, corporate matching, which quietly robs vulnerable customers and defraudes a 26 million dollar community, may require protection by the regulator that requires protection.

Make the behavior of a white -collar incompatibility to a large extent unfavorable.

Violations of this order require not to make high -wage individual managers and defective decisions or not to make a costly compliance calls that require laws. However, they are not held responsible.

Anti -Corruption Commission

On June 6, 2004, the National Anti -Corruption Commission decided not to refer to the integrity regulator under the seal by the royal commissioner Catherine Holmes for potential criminal behaviors on his roles in the Robodebt scandal.

Although words are different, Longo’s observation of the reluctance of corporate regulators to punish well -rescued managers are consistent with the guards directed by the RobodeBT Royal Commission. Justice Holmes protected the names of the alleged criminals under the sea and

Nacc tried to make sure that their reputation would not be full of their behavior would not be full of investigation.

It was even made under state -approved secrecy.

The context of the potential guilt of six individuals is that in the official positions, the Federal Court of Justice Brendan Murphy from the Federal Court in June 2021 has contributed to the behaviors that contribute to the behaviors that define as a shameful part in the administration of the nations ”and“ a great failure of public administration ”.

Robodebt Tension assemblies in Nacc

The judge made these observations when Robodebt won illegally collected to his victims ‘illegal’ debts to pay back $ 1.8 billion. The terrible behavior of many officials who gave evidence to the Royal Commission affected approximately half a million Australian citizens so seriously that many of them still have not healed and others took their own lives. The payments given by the court did not contain pain and suffering compensation, medical expenses or loss of opportunity.

Nevertheless, although the Royal Commission, which detares the embarrassing behavior of many well -occupied officials, was realized that the schema was illegal four years after the hearings, a single person has not been responsible for what Robodebt would be applied for a long time.

No maintenance and responsibility

This weakness is not only an Australian phenomenon. After the 2011 telephone holding scandal in the UK, some senior police and news editors served jail and shame was expressed by the leading criminals Rupert Murdoch and senior executive Rebekah Brooks.

However, the ones who were ultimately responsible fled without being relatively damaged and continue to participate in similar media practices at the sales points in the United States, England and Australia.

FOX Corporation shareholders carry the burden of a billion dollar penalty by Fox News on explicitly insulting Donald Trump’s so -called participation in the 2020 US election loss. No person was taken into account other than mid -level managers who called the result of the result of the Arizona.

Similarly, during the Ashby-Sipper Affair, which sank the Gillard Government, it was not called to explain the ugly media behavior of News Corporation sales points.

An important exception was eighteen years ago, the President of the Australian Competition and the Consumer Commission (ACCC) Graeme Samuel was looking for imprisonment for managers who participated in cartel behavior. Visy and Amcor’s executives resulted in a 36 million dollar criminal penalty against Richard Pratt’s Visy of the 2007 agreement, and the Paper Patron fled narrowly behind the bars, despite Samuel’s best efforts on behalf of the ACCC.

Samuel lost many friends in high places to do his job.

And this is perhaps the essence of the issue. When most regulators are players in the industries where they are ready to arrange before, what other than a soft attitude towards the mistakes of corporate and government titans?

Happy Nacciversary. Celebrating two years too much