Lessons from the Banking Royal Commission for the COVID-19 world

Event details

Location

  • Online - Zoom Webinar

Date and time

  • Thursday 3 September 2020, 12.00-1.30pm (WST)

Audience

  • Academics
  • Professional staff
  • Public
  • Students

Registration

  • Registrations open
Register

Lessons from the Banking Royal Commission for the COVID-19 world


In the age of COVID-19, the banking royal commission seems a lifetime ago. But fresh scandals ranging from the Ruby Princess debacle to regulation of dodgy hand ‘sanitisers’ demonstrate the Commission’s lessons for broader, effective corporate regulation remain critically important. Within the financial sector itself, regulators have been active, pursuing headline cases such as the Westpac money laundering fiasco, CBA’s defective ‘AgriAdvantage Plus’ packages and NAB’s now notorious ‘Introducer Program’. Much work clearly remains to be done.
 
This panel event seeks to identify and explore the ongoing challenges from legal, business and regulatory perspectives. What are the best ways to ensure delinquent corporate citizens are held to account? How should Australia go about the task of overhauling and reforming existing complicated and inefficient systems of legal regulation of powerful corporates? Beyond reforming regulation, what are the ways in which corporations themselves are better able to lead the case for cultural change in their own workforces and boards? 

 

Panellists

Professor Elise Bant

Dr Elise Bant is Professor of Private Law and Commercial Regulation at The University of Western Australia, a Professorial Fellow at the University of Melbourne and Fellow of the Australian Academy of Law. She is a general editor of the Journal of Equity with Professor Simone Degeling (UNSW) and Professor Matthew Harding (MLS). Her main areas of teaching and research interests lie in the fields of unjust enrichment and restitution law, property, contract and consumer law, civil remedies, equity and trusts. She is currently working on Australian Research Council grant research with Professor Jeannie Paterson (MLS), which examines the regulation of misleading conduct at common law, in equity and under statute (DP 180100932). She has also been awarded a Future Fellowship to examine corporate liability for serious civil misconduct, including fraud and predatory trading practices (FT 190100475), which commenced in May 2020.

 

Winthrop Professor Ray da Silva Rosa

Ray is Professor of Finance, UWA Business School, Chair of Academic Board & Council, Member of UWA’s Senate, Fellow of St Catherine’s College, UWA, and Non-Executive Director of ASX-listed company Absolute Equity Performance Fund Ltd. Ray is a member of the editorial boards of three academic research journals and is a former president of the Accounting & Finance Association of Australia and New Zealand.  Ray has been an expert witness in over 20 legal cases, mostly class actions including the Centro class action that gave rise to Australia’s largest ever-settlement, and the Allco and QBE class actions. Ray lectures in Investment Analysis and Mergers & Acquisitions. He has won several teaching awards.

 

Chris Savundra

Chris is ASIC’s General Counsel and leads the Chief Legal Office, the primary source of legal advice to the Commission and legal services across ASIC. Chris and his team provide advice and guidance on complex regulatory matters, law reform and new areas of regulatory responsibility for ASIC, conducting ASIC’s litigation and advising on enforcement matters. Previously, Chris was the Senior Executive Leader for the Market Enforcement team and was responsible for the carriage of a number of ASIC’s major market misconduct matters. Before joining ASIC, Chris worked in the litigation group of Allens Arthur Robinson and Herbert Smith in London. Chris has more than 20 years legal, regulatory and enforcement experience and holds law degrees from the University of Oxford and the University of Western Australia. He also holds a Bachelor of Commerce