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Tuesday, 5 Feb 2019
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Abusing clients is so 2018

The obvious post-Hayne Royal Commission comment is that Bank executives with the wrong culture will be trying not to laugh at the recommendations.

The AFR cartoon on the announcement of the recommendations:

Some are calling it a waste of time. I think not.

In hindsight the Hayne Royal commission was never going to have the time or resources needed to forensically investigate the sector to the satisfaction of everybody, and they haven’t. The criticism is that they have missed a lot of issues and spent too long focusing on “fee for no service” and the sales/profit culture and in so doing missed a host of other issues.

In the end, to the relief of the bank sector share prices, it has been a bit of an anti-climax, certainly

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