Profit and loss
A commission of inquiry reaches a damning verdict on Australia’s banks
If a healthy banking system is dull, then Australia’s must be sick to the core. A royal commission with a broad remit to investigate abuses by the country’s financial institutions has found many troubling practices.
Hearings revealed that for years banks had hidden fees, charged money for non-existent services and docked charges from the dead.
Financial advisers earned bonuses for channelling clients’ cash towards underperforming funds. Insurance companies flogged junk schemes to the poor or mentally disabled.
在委员会介入调查期间，澳大利亚四大银行的市场总值下降了 16.3%，总市值缩水了 66 亿澳元（约合 471 亿美元）。
In April the country’s biggest asset manager, AMP, sacked its chief executive and chairman after the inquiry heard that it had not only charged customers for advice that was never provided, but had lied to the regulators about it.
4 月，澳大利亚最大的资产管理公司 AMP 解雇了其首席执行官和董事长，因为根据调查，该公司不仅就未提供的咨询服务向客户收取了费用，还向监管者撒了谎。
On February 4th Kenneth Hayne, the judge who led the inquiry, handed his final report to the government. Heads have rolled: the chairman and chief executive of National Australia Bank, which Mr Hayne singled out for particular criticism, have resigned.
2 月 4 日，负责该调查的法官肯尼斯·海恩向政府递交了他的最终报告。已经有人受到了惩罚：受到海恩着重批评的澳大利亚国民银行的董事长兼首席执行官已经引咎辞职了。
The commissioner has asked regulators to investigate 24 possible breaches of civil or criminal law. Mr Hayne expressed particular disgust at those who gouged fees without providing services.
委员已经要求监管机构就 24 项可能违反民法或刑法的问题进行调查。海恩对那些未提供服务却收取费用的人尤为反感。
受害者已经收到了近 10 亿澳元的赔偿。违法者可能违反了 “在金融产品或金融服务中存在不诚实行为” 的法律。
The report said the Australian Securities and Investments Commission (ASIC), the corporate regulator, should consider the maximum penalties: large fines, or up to ten years in prison for individuals.
Thus Australia, a country widely regarded as having had a “good” financial crisis, with a stable, profitable banking system, may become one of the few places where bankers are jailed for institutional wrongdoing.
因此，澳大利亚这个普遍被认为有着 “良好的” 抵御金融危机能力的、拥有稳定有利的银行体系的国家，可能会成为少数几个因机构的不当行为而使银行家锒铛入狱的国家之一。