Royal Commission interim report criticises Australian banking industry for culture of greed (October 2018)
Client Briefings
Introduction
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In an eagerly anticipated interim report, Australia's Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has criticised the industry for bad conduct driven by the pursuit of short-term profit at the expense of customers' best interests. The Commission puts the industry on notice that some of the sector's methods and practices must change dramatically.
