Royal Commission Receives Support From Advisers

Do you support the Government's decision to establish a Royal Commission into the alleged misconduct of Australia's banking and financial services sector?

  • Yes (55%)
  • No (34%)
  • Not sure (11%)

Advisers have given their qualified support to the recently-announced Royal Commission into the Banking and Financial Services sector.

As we go to print, around half of those voting in our latest poll (51%) support the Government’s decision to go ahead with the Royal Commission, while 36% are against the decision and 13% are on the fence.

The comments we’ve received in response to this poll reflect a certain resignation and weariness within the adviser community as the life insurance industry prepares itself for the commencement of the Life Insurance Framework transition period.

The general feeling from advisers, based on the poll comments and other feedback we’ve received, seems to be that a Royal Commission into Banking and Financial Services will benefit the community as long as the focus of the Commission’s investigations is directed towards the conduct of the banking sector. However, there also appears to exist a certain level of cynicism around the entire process and the eventual value (or lack of it) that many advisers believe will emerge from the investigation.

If you’d like to have your say, our poll remains open for a while longer as we approach the end of 2017 and look towards the changes to the sector that will be taking place in 2018…