Royal Commission to focus on causes of poor conduct

The seventh round of Financial Services Royal Commission hearings is to start from 19 November in Sydney and 26 November in Melbourne as major financial institutions and regulators hash out bad behaviour and misconduct.

The seventh round of hearings will focus on questions that arose from the first six rounds of hearings, and the issues identified in the Interim Report. Culture, governance, remuneration and risk management practices were discussed in the previous misconduct allegations, levelled at financial services companies in the last hearings.

APRA and ASIC will be examined for their part to play in misconduct and how they can operate better to regulate the industry.

Entities to appear so far include:

• AMP Limited

• Australia and New Zealand Banking Group Limited

• Australian Prudential Regulation Authority

• Australian Securities and Investments Commission

• Bendigo and Adelaide Bank Limited

• Commonwealth Bank of Australia

• Macquarie Group Limited

• National Australia Bank Limited

• Westpac Banking Corporation