Organisation
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was established on 14 December 2017 by the former Governor-General of the Commonwealth of Australia, His Excellency General the Honourable Sir Peter Cosgrove AK MC (Retd) to enquire into misconduct in the banking, superannuation and financial services industry.
The Governor-General issued Letters Patent which formally appointed High Court Judge the Honourable Kenneth Madison Hayne AC QC as the Royal Commissioner and outlined the terms of reference for the inquiry.
The Commissioner submitted his final report to the Governor-General on 1 February 2019. The final report was tabled in the Australian Parliament on 4 February 2019.
Report
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry: final report
The central task of the Royal Commission was to inquire into and report on whether any conduct of financial services entities might have amounted to misconduct and whether any conduct, practices, behaviour or business activities by those entities fell below community standards and expectations. The inquiry has found that very often, the conduct has broken...
Technical report
Information about selected aspects of foreign financial services regulation: background paper 30
This technical paper, requested by the Royal Commission, examines aspects of the regulation of financial product and service providers in the United Kingdom, the Netherlands, New Zealand and the United States.
Report
Conflicts of interest and disclosure
This research paper argues that any proposed policy action to manage conflicts of interest should ideally undergo further testing in the field in which it will be implemented to assess the likely real-world impact. This would improve the design of the policy and monitor the consequences, both intended on unintended, on both advisers and advisees.
Report
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry: interim report
The Commission’s work, so far, has shown conduct by financial services entities that has brought public condemnation. Some conduct was already known to regulators and the public - some was not. Why did it happen? The answer seems to be greed – the pursuit of short term profit at the expense of basic standards of...
Briefing paper
Some features of the general and life insurance industries: background paper 26
The purpose of this paper is to discuss some of the factors that influence how insurers provide general and life insurance to consumers to assist consumers manage risk. It also discusses the size and composition of the general and life insurance industries, and the main industry participants. How the industry says customers will be treated...