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Royal Commission into Banking Final Report Briefing Note image

Royal Commission into Banking Final Report Briefing Note

Published: 04 Feb 2019

As in the Royal Commission’s interim report, the final report – correctly – diagnosed the root causes of systemic misconduct and subpar behaviour: “in almost every case the conduct in issue was driven by the relevant entity’s pursuit of profit but also by individuals’ pursuit of gain…”

However, the final report leaves institutions and structures (e.g. vertical integration) largely intact – except industry super, which would likely need to be transformed if the “one-account- for-life” approach to the “stapling” recommendation is implemented.

This briefing note is a high level summary of key recommendations and preliminary reactions - it is not exhaustive and perspectives will likely evolve over time.

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