The Royal Commission Hub

04 April 2019

Latest update

ASIC’s new product intervention powers & 6 reasons to review retail financial and credit products now

The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) legislation has passed with amendments (including extending the regime to credit facilities). ASIC’s new intervention powers are likely to commence this month. Product issuers should start reviewing affected products now. Read more >

05 March 2019

Remuneration both affects and reflects the culture of an organisation - it tells staff what the entity rewards and what it values. The Royal Commission final report has shown that poor remuneration lead to poor customer outcomes. KWM Partner Andrew Gray unpacks the key remuneration recommendations for financial institutions.

04 March 2019

There have been a number of developments since the Government’s release of the final report of the Royal Commission into the Financial Services Industry and the Government’s response on 4 February 2019.

Our experts outline the latest non-legislative developments since 4 February and how quickly they will be implemented. Learn more >

11 Feb 2019

We will keep you up-to-date as the impact of the final report into Australia's Financial Services Industry unfolds.

The final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was released by the Government on Monday 4 February.

Our recently published in-depth analysis considers the recommendations with a focus on the consequences for industry and suggestions as to what you should do next.

Our Royal Commission Hub will keep you informed and up-to-date as the implementation of the final report progresses. Here you can access related content, useful resources and keep in touch with our dedicated Financial Services Regulation Team.

We are happy to assist you in considering the final report and how it impacts to your business further. Please contact your usual KWM contact or Jim Boynton at [email protected] if you would like to discuss the report further.

In-depth Analysis

Here our experts share deeper guidance on the recommendations outlined in the report and what you should be considering now.

Key Recommendations

Here our experts have put together key observations and recommendations for law reform.

Meet our Financial Services Regulation team

If you need further guidance on the outcomes of the Royal Commission, our team of experts are here to help.


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    Where to from here?

    There are a number of actions which you can take now. Our analysis is designed to help you navigate industry-wide issues as well as specific topics. 

    Click on the topics below of most interest and relevance to you.



    Insurance & D&O

    Directors and Officers Insurance

    Regulatory Engagement

    Role of regulators

    Consumer & Small Business Lending

    Consumer and Small Business lending

    Financial Advisers & Brokers

    Financial Advisers and Brokers

    Governance, Conduct, Culture & Trust

    Conduct and Culture Accountability Trust

    Class Actions & Remediation

    Class Actions and Remediation

    Superannuation & Life Insurance

    Superannuation and Life Insurance

    Useful resources

    The Hayne Final Report

    The final report of the Royal Commission into misconduct within Australia's Financial Services Industry was released on 4 February 2019.

    'A few surprises' for the law

    The Australian Financial Review published this article by Michael Pelly on 5 February 2019.

    AFCA consultation on the findings of the final report

    The Australian Financial Complaints Authority announced it will run limited consultation regarding required changes to its Rules.

    Royal Commission Interim Report

    The interim report of the Royal Commission into misconduct within Australia's Financial Services Industry was released on 28 September 2018.

    ASIC's actions in response to the final report

    The Australian Securities and Investments Commission outlined its planned actions on the 12 recommendations directed at it including its approach to enforcement

    Restoring trust in Australia’s financial system

    The Government response to the final report into Australia's Financial Services Industry released on 4 February 2019.

    APRA's plan in response to the final report

    The Australian Prudential Regulation Authority announced a timetable for completing 10 recommendations that require its direct attention.

    Press Conference with the Hon Josh Frydenberg MP

    Listen to the Treasurer's press conference on the final report into Australia's Financial Services Industry on 4 February 2019.

    The ABA's response to the final report

    The Australian Bankers Association has agreed to amend the Banking Code of Conduct to implement a number of recommendations.

    Hayne Royal Commission Report

    What does this mean for non-financial services sector entities?

    Financial Institutions: Regulator

    Australia Financial Regulation Compliance Conundrum

    Proposed reforms could redraw Australia’s financial services landscape with tougher regulatory requirements.

    Financial Institutions: Regulator

    Royal Commission Action Plan

    Our experts have put together a quick guide to help you navigate what to do next.

    Royal Commission fallout: The big 5 issues

    Based on the interim report, released in September 2018, we predicted the big issues to come out of the Royal Commission fallout.


    Royal Commission update after the interim report and final round of hearings

    In November 2018, the Financial Services Royal Commission held its seventh and final round of public hearings.

    Banking Royal Commission – What do I do now?

    The Financial Services Royal Commission interim report was released on 28 September 2018. Our experts provide their summary.

    Update on financial services Royal Commission

    Our experts provide an update following the fifth round and sixth round of hearings, on superannuation and general and life insurance, in September.

    Proposed changes to the ASX Corporate Governance Principles

    We outlined submissions on the ASX Corporate Governance Principles released in November 2018.

    Financial Institutions: Regulator

    Are Australian boards being set up for failure?

    In September 2018, our experts commented that public company director expectations are completely out of hand, and that boards are set up for failure.

    Hard times ahead for D&O insurance

    In September 2018, the market for directors and officers liability insurance policies had begun to harden with insurers now inserting “royal commission exclusion” into policies.

    Update on ASIC activities

    Our experts discuss ASIC enforcement outcomes and its implications from January to June 2018. ASIC reported that it had taken 11 criminal actions against directors for “corporate governance misconduct”.