Labor calls Royal Commission inadequate

Alex Burke,  Senior Writer,  No More Practice Education

Labor has responded to Kenneth Hayne's interim report, arguing that the "tight timeframe" of the Royal Commission left "very little time to hear from victims of misconduct."

In a paper co-authored by Bill Shorten, Chris Bowen and Clare O'Neil, Labor said it was "no secret that the Morrison Government never wanted a Royal Commission," noting that Morrison himself labelled the prospect a "populist whinge."

As a result, the paper argued, the Commission was unable to field anything approaching the more than 10,000 submissions made, ultimately hearing from 27 people. Following on from the party's calls to extend the Commission, Labor has since met with victims of financial misconduct in a series of roundtables across the country in order to hear (and publish) their views.

 

Examining in greater detail

Labor said these roundtables provided "additional clarity and breadth to the preliminary conclusions about bank culture that the Commissioner outlined in his interim report," adding

Continue Reading
Liked this article? Let us know

Want more of the latest in opinions, expert insights and training?

Subscribe to our free eNewsletter now

/ Related content

Labor zeroes in on adviser commissions

In its response to the Royal Commission, Labor said it would "act faster....

Criminal prosecutions expected by ASIC

Here’s how the regulator is responding to the Royal Commission report.....

What the Royal Commission report means for advice

A range of recommendations have been made in the final report. 

Leave a comment /

Related content /

26 February, 2019

Alex Burke,Senior Writer,No More Practice Education

Labor zeroes in on adviser commissions

In its response to the Royal Commission, Labor said it would "act faster and go further" with the final report's recommendations.

Read now

21 February, 2019

Alex Burke,Senior Writer,No More Practice Education

Criminal prosecutions expected by ASIC

Here’s how the regulator is responding to the Royal Commission report.

Read now

04 February, 2019

Alex Burke,Senior Writer,No More Practice Education

What the Royal Commission report means for advice

A range of recommendations have been made in the final report. 

Read now

WordPress Lightbox Plugin