The Australian Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry published its interim report on 28 September 2018 (Initial Report). It provides no formal recommendations but highlights key issues identified during the Commission’s 11 months of public hearings and evidence gathering.

Such issues include the prevalence of conflicts of interest in the delivery of financial advice and consumer lending; the detrimental effects of remuneration practices and policies; concerns around the culture and governance of firms, and the scope and effect of the Banking Executive Accountability Regime.