In the Interim Report I pointed out that the first paragraph of the Terms of Reference obliged me to inquire into whether conduct might have amounted to misconduct (as defined) and that the second paragraph required me to consider whether Read More …
Tag: conclusion
Introduction
In the previous chapters I have sought to explain the conclusions and recommendations I have reached about many of the issues that have arisen in the course of the Commission’s work. For the most part, the issues dealt with in Read More …
Conclusion
The twin peaks model of regulation has now operated in Australia for many years. It should be maintained and strengthened. But there should be some adjustments made in respect of the regulation of superannuation and the BEAR. As I said Read More …
Conclusion
Failings of organisational culture, governance arrangements and remuneration systems lie at the heart of much of the misconduct examined in this Commission. Improvements in the culture of financial services entities, their governance arrangements and their remuneration systems should reduce the Read More …
Conclusion
Insurance, as a means for spreading risk, brings signficant benefits for both individuals and for communities.[1] But some changes should be made to bring the regulation of insurance into line with that of other financial [1] Background Paper No 14, Read More …
Conclusion
Superannuation trustees are responsible for the compulsory and voluntary retirement savings of millions of working Australians. This responsibility comes with important obligations to act in the best interests of members and to give priority to the interests of members above Read More …
Conclusion
The financial advice industry is part way through transformation from an industry dedicated to the sale of financial products to a profession concerned with the provision of financial advice. The interests of Australians who seek financial advice require that that Read More …
Conclusion
In what I have said above, I have tried, as far as possible, to recommend changes to the substance of ongoing fee arrangements, rather than the form in which those arrangements are given effect. The heart of the matter is Read More …
An addendum: Bankwest
Chapter 5 of the Interim Report – Bankwest and CBA – set out my conclusions about complaints that have been made regarding CBA’s conduct in respect of customers who had borrowed from Bankwest before CBA acquired Bankwest in 2008. I Read More …
Conclusion
This chapter has dealt with ‘traditional’ banking services. It has not dealt with issues arising in connection with financial advice, superannuation or insurance and has not considered the larger questions of culture, governance and remuneration examined in later parts of Read More …