With the landing of the Royal Commission’s final report, the emerging narrative appears to be that our financial system is sound, but the culture of our institutions must change. Accepting this, and that the entire system is not broken, the question remaining is whether or not the implementation of the recommendations as outlined by Hayne will actually change the culture of our financial sector. Royal Commissions expose wicked problems, heighten public awareness and build public pressure for reform – and appetite for action continues to build. Community outcry has largely focused on improving the standards and culture of the industry, but the uncertainty of how government will respond to the need for cultural improvement creates risk.


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