The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was established on 14 December 2017 by the Governor-General of the Commonwealth of Australia, His Excellency General the Honourable Sir Peter Cosgrove AK MC (Retd).
The Governor-General issued Letters Patent which formally appoint the Royal Commissioner and outline the Terms of Reference for this inquiry.
The Commissioner, the Honourable Kenneth Madison Hayne AC QC, will submit an interim report no later than 30 September 2018, and will provide a final report by 1 February 2019.
An online form is available to assist people wishing to make submissions to the Royal Commission about misconduct in the financial services industry. Online submissions can be made from the Public submissions page up until 28 September 2018. The Commission is required to conduct an inquiry. It cannot resolve individual disputes. It cannot fix or award compensation or make orders requiring a party to a dispute to take or not take any action.
Submissions in response to Round 5 Superannuation have now closed. Written submissions on policy related issues will be invited in the week after the conclusion of Round 6. Submissions will also be invited following the tabling of the interim report.
The next round of hearings (Round 7) will focus on policy questions arising from the first six rounds. Round 7 will be held in Sydney from 19 November and Melbourne from 25 November. Details about topics and case studies to be heard will be published prior to the hearings commencing.
View the live webcast or previous hearings.
Public submissions - Fast facts
As at 21 September 2018
Top 3 – submissions by industry
Main nature of dealings
| Banking 62%
Financial advice 9%
Small business finance