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small business finance and farming finance included in royal commission

Wednesday 24 January 2018
News Summary

Farming finance and small business finance will be included amongst the issues being investigated by the Royal Commission.

The Royal Commission will commence public hearings in Melbourne on 16 February.

Commissioner Kenneth Hayne has asked for submissions on small business finance, farming finance, financial advice, personal advice, personal finance, general insurance, life insurance, superannuation, mortgage broking, and business insurance, as well as other areas in the financial sector.

The AFR’s James Frost reported that:

The Commissioner has also asked those who submit evidence to identify whether their complaint related to (a) misconduct or conduct falling below community standards and expectations, (b) culture or governance practices and other practices, or (c) effectiveness of redress for consumers.
Banks must also deliver their own documents by 29 January.