Tag Archives: BANK (URGENT)

Australia postponed banking investigation recommendations for 6 months | Instant News


SYDNEY, 8 May (Reuters) – The conservative government of Australia said on Friday that it would delay six months of implementing recommendations in an investigation that condemned the country’s financial sector for violations.

A strong investigation in February 2019 lays out 76 recommendations for cleaning up the Australian financial sector.

But the government said it would delay implementing the recommendation for six months to allow banks to focus their efforts on supporting customers through the COVID-19 pandemic which is expected to drive unemployment to more than 10%. (Reporting by Colin Packham Editing by Shri Navaratnam)

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