Royal Commission News
A Royal Commission is a formal inquiry into broad matters of importance that affect the governance of a country and its people. It is conducted when concerns are realised to have a significant impact to the public, matters such as government structure, social welfare, economic impact, corruption or criminal misconduct.
Recently, the 'Misconduct in the Banking, Superannuation and Financial Services Industry in Australia' is a royal commission pursuant to the Royal Commissions Act 1902 established by the Australian government in 2017 to inquire into and report on any misconduct by Australian banks and financial institutions providing banking, superannuation and financial services. The Honourable Justice Kenneth Madison Hayne, AC, QC is the sole commissioner, assisted by the following legal counsel. Rowena Orr QC, Michael Hodge QC, Albert Dinelli, Eloise Dias, Mark Costello.
This royal commission found that some financial institutions charged fees for services that were not provided, or continue to charge fees to those who are deceased.