Royal Commission into Misconduct in the Financial Services Industry

Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry

Royal Commission into Misconduct in the Financial Services Industry

On 30th November 2017, the Federal Government announced a Royal Commission into misconduct in the Financial Services industry. The CEOs and Chairmen of the Big 4 banks requested the Government undertake a Royal Commission in order to provide assurance on the integrity of Australian financial services. The Government allocated $75million in funding for the Royal Commission and appointed the Honourable Kenneth Hayne AC QC to lead the Royal Commission. He will provide an interim report by September 2018 with a final report within 12 months.

The Royal Commission Act empowers Royal Commissions with considerable power, including up to six months’ imprisonment for a person failing to provide the commission with requested documents or failing to provide evidence.

Protiviti is well placed to assist any financial services institution to prepare for the Royal Commission with a diverse team of financial services experts.


Insights

 
Protiviti's provides an overview of the intentions of the Royal Commission, outlining the entities in scope and what the Royal Commission is aiming to address.

 
The scope of work outlined when the Royal Commission was announced is significantly broader than originally anticipated. In this paper, Protiviti provides a view on the scope of works, outlining several considerations based on the Terms of Reference.

 
A summary of the key developments from the Royal Commission evident prior to the public hearings commencing on 13 March, 2018.

 
Protiviti provides further detail on the key developments that have emerged as the Royal Commission has progressed. This includes a summary of the intentions of the Commission to produce multiple papers during the course of the Royal Commission and the subject of these papers.

Contact Us

 
Mark Burgess
+61.408.506.411
 
Mike Purvis
+61.417.288.244
Philip Doran, Protiviti Australia
 
Philip Doran
+61.407.771.177

Let's Engage and Share

Follow us on Facebook
Catch us on Twitter
Join the Protiviti Australia LinkedIn Community

 

Ready to work with us?

Mike Purvis, Protiviti, Australia
Mike Purvis
Managing Director
+61.417.288.244
Linked
Mark Burgess
Mark Burgess
Managing Director
+61.408.506.411
Linked