The Government’s Implementation Plan

In its comprehensive response to the Royal Commission, the Government committed to take action on all 76 recommendations of the Royal Commission and made 18 additional commitments.

A table outlining indicative timelines for implementation of recommendations and additional commitments requiring Government action is at Appendix A and regulator action is at Appendix B.

In progressing the design and implementation of the reforms, the Government will look to do so in a way that is consistent with the Royal Commission’s recommendations that, as far as possible:

  • exceptions and qualifications to generally applicable norms of conduct be eliminated; and
  • legislation applying to financial services firms expressly identify what fundamental norms of behaviour are being pursued.