Banking executives face up to 15 years in jail under tough new laws to stamp out white-collar crime as the corporate regulator prepares to crack down on misconduct in the sector.
- Sarah Danckert
- The Sydney Morning Herald
On Friday, the Senate passed a long-awaited bill that drastically increases the penalties for white-collar crime.
Australian Securities and Investments Commission’s deputy chairman, enforcement, Daniel Crennan, QC, welcomed the passing of the bill on Friday.
“Now ASIC will be in a position to pursue extremely harsh civil penalties and criminal sanctions against banks, their executives and…