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
IFM looks offshore for renewable lending opportunities
Australia is losing out to the global market and increasingly to Asia when it comes to renewables lending from one of the country's biggest fund managers, with IFM Investors executive director and co-head of APAC diversified credit Hiran Wanigasekera saying the risk-return trade-off is simply better ...
GQG records further outflows despite positive returns
GQG Partners recorded net outflows of $3.3 billion (US$2.3bn) in September, extending a difficult year for the ASX-listed fund manager despite positive investment performance across its four primary strategies.
Mason Stevens farewells managing director
Mason Stevens managing director, global investment service has wrapped up his seven-year tenure at the company.
ASX to defend legal action brought by shareholder
The Australian Securities Exchange said it plans to defend the claims submitted by one of its shareholders on ASX's behalf, stating the applications filed are "not in the best interests of the company."
Further Reading
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
Cliff Man
CHIEF EXECUTIVE OFFICER
ETF SHARES MANAGEMENT LTD
ETF SHARES MANAGEMENT LTD
ETF Shares chief executive Cliff Man spent his career automating, building and challenging established systems. Now, he is betting that Australia's ETF market has room for something different. Vinny Vucago writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
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