In the following pages, timelines are set out for Government actions, including for introduction of legislation where relevant.
Tag: introduction
Introduction
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 Read More …
Introduction
In its sixth round of hearings, the Commission examined the insurance industry. It did so by reference to case studies involving all stages of the insurance process: the design of insurance products was considered in the CommInsure and IAG case Read More …
Introduction
The Commission’s fifth round of hearings explored issues relating to the superannuation industry. The hearings focused on four topics: the proper use of members’ money, including inappropriate deductions from members’ accounts (such as for services that were not provided), failures Read More …
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 …
Introduction
I said in the Interim Report that almost all of the conduct identified and criticised in that Report contravened existing norms of conduct and that the most serious conduct broke existing laws.[1] Notwithstanding that, the law was too often not Read More …
Introduction
I said in the first chapter of this Report that there can be no doubt that the primary responsibility for misconduct in the financial services industry lies with the entities concerned and those who managed and controlled those entities: their Read More …
5 Group life insurance
As I explained in the introduction to this chapter, an important feature of the life insurance market is that life cover, total and permanent disability cover, income protection cover and trauma cover are available not only through individual policies but Read More …
Introduction
In its public hearings, the Commission focused upon the life insurance and general insurance industries, not on the marine or health insurance industries. This focus was consistent with the complaints made to the Commission, with the misconduct and conduct falling Read More …
Introduction
The superannuation sector of the financial services industry is important, not only to the many individuals who participate in it as members of superannuation funds, but also to the nation. Superannuation is important to individuals because it will affect, even Read More …