SYDNEY—Australia’s financial services minister said on Thursday that the country’s banks have a lot of work to do to regain the public’s trust as executives prepared for another day of grilling before a powerful inquiry into the scandal-hit sector.
Kelly O'Dwyer backed comments by Treasurer Scott Morrison that jail terms were possible after executives at AMP Ltd, Australia’s largest wealth manager, admitted it had lied to the corporate regulator to cover up charging thousands of customers for services they did not provide.
