Former High Court judge Kenneth Hayne will lead the royal commission into misconduct into Australia's financial sector.
The Turnbull government on Friday recommended Mr Hayne be appointed commissioner to oversee the 12-month inquiry into banks, insurers, financial service providers and superannuation funds.
"He is renowned for his brilliant mind, his forensic skill, and his deep sense of justice," Prime Minister Malcolm Turnbull, Treasurer Scott Morrison and Attorney-General George Brandis said in a joint statement.
