More heads should roll over banking royal commission

There have been no real surprises uncovered by the Royal Commission into the banking and superannuation industries. It has been known for years that financial advisers provide advice that benefits the adviser rather than the client. Federal Governments allowed this to happen by failing to to ensure that the financial regulator, ASIC had a proper oversight of the industry. The regulator has a cosy relationship with the industry and successive governments endorsed it.Bank executives and board members should be made accountable - as should bureaucrats and politicians who sat on their hands while all this was going on in plain sight.

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