financial services royal commission


Customers will still not be sure they are receiving independent financial advice unless the industry goes further than the royal commission's recommendations, says UNSW Business School Professor Jerry Parwada.


Some of the big hits failed to materialise, but the banking royal commission final report still lays out serious challenges for the industry, say experts from the UNSW Centre for Law, Markets and Regulation.


The royal commission report is a unique opportunity for customers to expect significant changes of financial instutions, which are on notice to respond, says Professor Pamela Hanrahan of the UNSW Business School.


There are five key areas where the imminent financial services royal commission final report can propose change to protect consumers from the abuses endemic in these industries.