The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was formally established on 14 December 2017 and held seven rounds of hearings during the course of 2018. The CEO of the AFA appeared during Round 2 on 26 April 2018.
The final report was handed to the Government on 1 February 2019 and publicly released on 4 February 2019. The final report included 76 recommendations and three separate volumes. Volume one included the Recommendations, whilst volume two addressed the Case Studies that were covered in the hearings. Volume three was the appendices. The Government has also provided a response to the report, setting out what they propose to implement.
AFA Royal Commission Transition Tools
02 September 2019 - Grandfathered Commissions Decision Tree
Royal Commission Legislation
01 August 2019 - Ending Grandfathered Conflicted Remuneration Bill
01 August 2019 - Ending Grandfathered Conflicted Remuneration Explanatory Memorandum
01 August 2019 - Ending Grandfathered Conflicted Remuneration - Minister's speech
09 September 2019 - AFA Response to the Ending Grandfathered Conflicted Remuneration Bill
25 September 2019 - Grandfathered Conflicted Remuneration - A Policy Vacuum
AFA Submissions in Response to Consultation on Royal Commission Recommendations
22 March 2019 - AFA Submission to Treasury on Ending Grandfathered Conflicted Remuneration
29 March 2019 - AFA Submission on Insurance Claims Handling
12 April 2019 - AFA Submission on Enforceability of Financial Services Industry Codes
12 April 2019 - AFA Submission on AFCA Rules Amendments
26 April 2019 - AFA Submission on Universal Terms for Insurance within MySuper
4 October 2019 – AFA Submission on Mortgage Broker Best Interests Duty and Remuneration Reforms
11 December 2019 – AFA Submission on Mortgage Broker Best Interests Duty and Remuneration Reforms
Royal Commission Final Report
Royal Commission - Implementation Roadmap
Royal Commission Final Report – Govt. Response (full)
Royal Commission Final Report – Govt. Response (Financial advice recommendations)
Royal Commission Final Report – Volume 1
Royal Commission Final Report – Volume 2
Royal Commission Final Report – Volume 3
AFA Submissions to Royal Commission
7 May 2018 - AFA Submission to Royal Commission
21 September 2018 - AFA Submission to Royal Commission
25 October 2018 - AFA Submission to Royal Commission - Insurance Round
26 October 2018 - AFA Submission to Royal Commission - Interim Report
14 December 2018 - AFA Extra Submission to Royal Commission
AFA Policy: Further analysis of Royal Commission Final Report
18 February 2019 - Analysis of RC Recommendation on Life Insurance Commissions
28 February 2019 - Conflicted Remuneration, Intermediaries and Grandfathering
19 March 2019 - Royal Commission failed to Understand the Value of Ongoing Financial Advice
19 September 2019 - The Hayne Recommendations - Why is there no debate?
Royal Commission Other
10 April 2019 - Joint APRA/ASIC Letter to Super fund Trustees
26 July 2019 – Speech by Kenneth Hayne on Royal Commissions - CCCS Conference – Melbourne Law School