Hayne royal commission interim report: Unclogging the central artery
- The interim report documented many shocking case studies on bad advice provided by banks.
- The reasons for the malaise were attributed to lack of competition in banking, conflicted remuneration and integrated business models, greed and the pursuit of profit at the expense of reputation.
- The interim report underscored the value of corporate culture as a self-disciplinary tool to achieve good governance.
