Interim Report
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
Publication date
The Interim Report of the Financial Services Royal Commission was submitted to the Governor-General and tabled in the Australian Parliament on 28 September 2018.
It covers policy-related issues arising from the first four rounds of hearings and poses a series of questions about:
- the adequacy of the existing laws and policies of the Commonwealth relating to the provision of banking and related financial services;
- the adequacy of the internal systems of financial services entities;
- the adequacy of existing forms of industry self-regulation, including industry codes of conduct, to identify, regulate and address misconduct and conduct falling short of community expectations and to provide appropriate redress to consumers;
- the effectiveness and ability of regulators to identify and address misconduct;
- whether any further changes to the legal framework, practices within entities, or the financial regulators are necessary to minimise the likelihood of misconduct in the future; and
- the effectiveness of mechanisms for redress for consumers of financial services who suffer detriment as a result of misconduct.
