Hayne balks at calls for SME-lending reform and deputises ASIC as code cop

SmartCompany, February 5, 2019

Banking royal commission head Kenneth Hayne has baulked at suggestions the regulatory framework governing SME lending needs to be overhauled, advocating more minor changes to the status quo.

Releasing his final report into misconduct in the banking, superannuation and financial services industry yesterday, Hayne said he was “not persuaded” national consumer credit protections would benefit small business, citing the dangers of a credit squeeze.

“With some exceptions, I generally do not favour altering the rules that govern lending to small and medium enterprises,” he said. For full report READ MORE: https://www.smartcompany.com.au/finance/sme-lending-banks-hayne-asic-asbfeo/?utm_campaign=SC&utm_medium=email&utm_source=newsletter