No regrets: Hayne reflects on Royal CommissionBY KARREN VERGARA | TUESDAY, 30 MAY 2023 12:37PM Nearly six years since the landmark Royal Commission, former High Court justice Kenneth Hayne stands by his recommendations that upended the banking and financial services sectors. Related News |
Editor's Choice
Future Group to internalise super trustee structure
Future Group is acquiring WTW's superannuation licensed entity, Stewarda, to establish trustee capabilities in house.
Natixis names chief executive for Mirova
Natixis Investment Managers has promoted an executive from another affiliate to succeed the outgoing chief executive of Mirova, Philippe Zaouati, effective July 1.
ASIC calls out platform trustees: 'Clear breach of trust'
ASIC has called out superannuation trustees for not doing enough to protect retirement savings of Australians on platforms even after repeated warnings from regulators about the dangers of poor oversight.
HMC Capital wins $1.3bn private credit insto mandate
HMC Capital has won two global institutional mandates of $1.35 billion for its private credit strategy in Australian commercial real estate (CRE) lending.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
Perhaps Hayne's recommendations should be applied to medicine and law.
A man who never engages in self reflection as per Hayne is an ignoramus
The Pomposity of this is draining.
"The financial services industry is too important to the economy of the nation to allow what has happened in the past to continue or to happen again."
"The fallout also included the near decimation of the financial advice sector, which saw the adviser population dive by 45%."
People have suicided. Honest hardworking caring people have had their businesses destroyed through auditing nightmares using backwards looking stupidity, or a remediation program that flew in the face of logic, or draconian compliance regimes.
Certainly, made it harder for some people who are thieves - the price that was paid by an average human being, qualified as a financial adviser, who is trying to caringly look after another person was way too high.
There are less people looking after less people.
An ENORMOUS amount of time has been wasted.
An ENORMOUS amout of money has been spent on education, or LOST through business opportunity costs.
How has that been helpful