Clifford Chance

Royal Commission interim report criticises Australian banking industry for culture of greed

8 October 2018

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.

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