Prime Minister Malcolm Turnbull has announced a royal commission into misconduct in the nation's financial sector.
The inquiry will be run by a former or serving judicial officer for 12 months, reporting back to the federal government by February 2019.
The terms of reference will ensure a comprehensive investigation into how financial institutions have dealt with cases of misconduct in the past, and whether those examples expose issues of cultural and governance issues, Mr Turnbull said.
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