Bank probe prompts board-exec relationship reset

-- | 06/12/2018

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David Ellis: The key takeaways from the two weeks of hearings was that the relationship between senior executives, particularly the CEOs and the chairman and the boards of directors have really been recast and this just does not affect the four major banks or the financial services industry. It has broader, very broad consequences and implications across all public listed companies.

I think, going forward, we will see chairman and boards of directors taking a lot greater interest and focus on regulatory issues, compliance issues, government's issues. Boards and directors will want to be convinced that these key issues are under control. So, they are some of the quick takeaways from round seven of the Royal Commission hearing.

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