The Financial Sector Union (FSU) is calling for the financial services Royal Commission to be extended, as more instances of sometimes very serious misconduct continue to arise from the inquiry.
The FSU said the inquiry should not be stopped due to time restraints and should be extended to include senior management within Australian financial services organisation, including chief executives and board members.
Julia Angrisano, FSU nations secretary, said there are systematic and cultural issues within the industry that need to be uncovered and addressed. The Royal Commission has uncovered issues that have not been found through any other inquiries into the industry, and should be able to continue as long as is required to ensure the issues littered throughout the industry are exposed.
Angrisano added that the Commission would likely find similar issues if they were to examine other industries. The issues that have been uncovered so far are only a small part of the problems within the finance industry.