Royal Commission is uncomfortable reading for Australia’s big banks

Justice Kenneth Hayne

From the big banks’ point of view, the final report from the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is embarrassing and humbling but changes little.

Justice Kenneth Hayne handed over the report to Australia’s treasurer Josh Frydenberg in an arse-clenchingly uncomfortable photocall on Friday. It was formally released to the general public and to the banks who were in it, who were not granted a chance to see it before publication, on Monday February 4.