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.
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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