The Royal Commission into Misconduct in the Banking, Superannuation
and Financial Services Industry was established on 14 December 2017.
From the outset, the Commission was committed to ensuring the public had easy access to information about the Commission and its work through a dedicated information line (phone and email), a website and email distribution services.
The Commission encouraged members of the public to contribute to its work by inviting submissions in relation to past conduct by financial services entities. The Commission received over 10,000 submissions from members of the public. These submissions played an important role in informing the Commission about the nature, magnitude and prevalence of misconduct and conduct falling below community standards in the financial services industry.
Following the closure of submissions on past conduct in late September, the Commission shifted its attention from past experiences to proposals on what should be done in response to the issues raised or conduct uncovered within the banking, superannuation and financial services industry.
To that end, the Commission invited submissions from the public in response to policy issues identified by Counsel Assisting during its fifth round of hearings on superannuation, its sixth round of hearings on insurance, and subsequently in response to issues identified in the Interim Report.
The Commission received almost 2,000 submissions in relation to policy issues, including 621 in relation to superannuation, 222 relating to insurance, and 1,114 in response to the Interim Report. Individuals making a submission were asked if the Commission could publish their submission. Where permission was given, these submissions have been published on the Commission’s website except where matters were subject to a non-publication order or where there were concerns about privacy or fairness.