Are there implications over a year on? Yes. The broader lessons on culture are becoming clearer, and we have seen an increasing trend towards its regulatory supervision, particularly with APRA regulated entities. In February 2019, the 4th ...

The response to the Final Report The Government's initial response to support the Recommendations was met with intense dissatisfaction and criticism from the mortgage broking industry. Industry groups argued that banning trail commissions ...

Culture and social licence '[G]etting culture and conduct right is not a supervisory requirement. It is necessary for banks’ and banking’s economic and social sustainability'1 Culture and misconduct The role of corporate culture assumes ...

In the Final Report, the Commissioner has found that, for the most part, whilst the legislative tools necessary to protect borrowers are already available, there have been significant shortcomings ...

Commissioner Hayne's recommendations may initially seem somewhat modest – they do not undo vertical integration, impose limits on executive remuneration or ban bonuses and they do not recommend that directors prefer the interests of their customers. But, while it is true that the recommendations are not radical, there is much in the report that will mean some real changes for financial services companies, their Boards and their executives, as well as for their regulators and advisers. ...

Issues Better governance for all: it's not just lessons for the banks A rapidly shifting focus to non-financial risk An oncoming storm in an already high-risk environment 'Detected, denounced and justly punished' - misconduct now ...

In Touch looks at what's been happening in Competition this month and what it means for your business ...

Throughout the Royal Commission, Commissioner Hayne grappled with the difficulties of striking an appropriate balance between ensuring that small and medium enterprises (SMEs) have access to credit, and imposing standards on the provision of that credit to protect SME borrowers and third-party guara ...

During the agricultural round of hearings, and in his Interim Report, the Commissioner asked if there should be special rules for farmers to address the particular challenges of the sector, and if so, who should bear the added cost? ...

The sixth round of public hearings considered issues associated with the sale and design of life insurance and general insurance products, the handling of claims under life insurance and general insurance policies, and the administration of life insurance by superannuation trustees. ...