Update: Royal Commission

The Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry is calling for submissions from anyone wishing to report misconduct ahead of its initial hearing. The first public hearing of The Commission is to be held at 10.00am on Monday 12 February 2018 and will be streamed live on the Commission’s website. The hearing will be held on Level 6, 11 Exhibition Street, Melbourne.

The initial hearing will see the Royal Commissioner and Senior Counsel Assisting make short opening statements, which will be open to the public.

The Commission wants to remind the public that it exists to conduct inquiries and will not be resolving disputes, make orders requiring parties to take or not take any action, nor awarding or fixing compensation.

The Royal Commission was established on 14 December 2017 by Governor-General Sir Peter Cosgrove, with Kenneth Hayne, former high court judge, named as Royal Commissioner.

A joint statement from Treasurer Scott Morrison and Prime Minister Malcolm Turnbull states that the Royal Commission will take a conventional, focused approach rather than the inquisition into capitalism some have called for.