Authors: Katherine Hayes, Partner and Greg Stirling, Senior Associate
Round 2 of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has examined the financial planning industry. The hearings finished in April, and concluded with some damning recommendations made by counsel assisting.
While we don’t yet have any findings from Round 2, one thing is for certain: the Commission has already had an impact. Numerous officeholders have departed from leading Australian companies, financial planning and wealth management businesses are being sold off, and class actions foreshadowed.
