Key areas for the banking royal commission

Royal commissioner Kenneth Hayne QC is expected to recommend substantial changes for the banking, superannuation and financial services industry.

Banks will come under pressure on bonuses for staff following the royal commission report. Source: AAP

GREED

Royal commissioner Kenneth Hayne QC has blamed greed for widespread misconduct in the financial services industry.

Short-term profit has been pursued at the expense of basic standards of honesty, his interim report said.

Mr Hayne said the banks had gone to the edge of what was permitted and beyond that limit because they could and because they profited from the misconduct.

 

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