Australian Royal Commission slams banks calling for tougher regulation and an overhaul of the industry. The Hayne Royal Commission findings released on Monday made sweeping recommendations, including calls for a radical overhaul of Australia's superannuation and home loan sectors. Some of the issues are similar to those highlighted by the Australian Royal Commission, but not as widespread. "We will look closely at the recommendations of the Royal Commission to see whether they should be implemented here." "It should be concerning to regulators that professional trustees apparently struggle to understand their most fundamental obligation," Commissioner Hayne said.

Source: Stuff February 04, 2019 07:18 UTC