Royal Commission comes to a close

Closing remarks were made by Commissioner Kenneth Hayne and counsel assisting Rowena Orr at the Royal Commission into financial services, after a brutal set of hearings for the industry.

The commission is no longer accepting submissions and no further findings will be made, after almost 70 days of hearings, over 400 witness statements, 6,500 exhibits, and 134 witnesses across Melbourne and Sydney.

The Royal Commission team was made up of Hayne and Orr, with four formally-appointed barristers, Michael Hodge QC, Albert Dinelli, Eloise Dias and Mark Costello, and another four barristers. The solicitors involved numbered just 20, with administrative support staff.

In the closing of operations, Orr thanked consumers. Hayne said: ‘In that connection, I should say publicly that I recognise the intensity of work that has been required of those acting for the entities whose conduct has been the subject of examination.  And I should also say publicly that I recognise that, much more often than not, those acting for the entities and agencies concerned have sought to cooperate with the Commission and with solicitors assisting in seeking to deal with the requirements that the Commission has made.’

The final report will be prepared, to be published on 1 February 2019.