The head of regulator ASIC testifies at the Banking Royal Commission

[7.6] James Shipton, Chair of Australia’s corporate, markets and financial services regulator ASIC (the Australian Securities and Investments Commission), is being questioned over the regulator's cosy interactions with the major banks, a propensity to leave company names out of its reports, the handling of revelations of fraud at NAB, failing to take the banks on in court, why its board lacks any independent directors, and more. Recorded on 22 and 23 November 2018 at the Lionel Bowen Building in Sydney. Testimony held during the seventh round of public hearings at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, focusing on policy questions arising from the first six rounds. Witness Statement: https://bit.ly/2E0Zyy9 Exhibits: https://bit.ly/2FFBcv9 (Nov 22) https://bit.ly/2Q3kxqa (Nov 23) Transcripts: https://bit.ly/2AoBlgH (Nov 22) https://bit.ly/2zvunaj (Nov 23) This video was extracted from the Royal Commission’s webcast archive and republished here as permitted under its Creative Commons Attribution 4.0 International licence. The source file, containing the raw archived webcast of the entire day of hearings, was trimmed to only retain the testimony of the above witness(es) and remove any breaks and offline periods of the webcast. For testimonies held over multiple days, separate source files would have been combined to create one consolidated video. Video Source: https://bit.ly/2XBSBKh Copyright information: https://bit.ly/2K2JMl2 Creative Commons license information: https://bit.ly/1rMF155 Whilst permitted under its Creative Commons licence, the republication of this content on YouTube is not officially endorsed by the Royal Commission nor the Commonwealth of Australia. © Commonwealth of Australia 2018. #bankingRC