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Commissioner Hayne’s recommendations – Editor

A recent article by Andrew Linden and Warren Staples [1] lists recommendations made in the 1000-page report by the recent Banking Royal Commission headed by Kenneth Haynes. According to the authors: “ .. the recommendations are a patchwork of measures that if implemented will over time be eaten

away – and at some point dismantled – because the rationale for their adoption will be forgotten”. Moreover they find that “the deepest flaw lies unaddressed” – unwillingness to put the public interest first, ahead of shareholders’ interests. The limited terms of reference mean that another crisis is likely in the future.

1. Source: The Conversation, 5 Feb 2019 tackle-bank-structure-means-that-in-a-decade-or-so-another-treasurer-will-have-to-call- another-royal-commission-110437

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