Why Hayne May Change Compliance Internationally
Niall Coburn
What the paper says
Australia’s Hayne Royal Commission report into the financial sector outlines 76 recommendations involving significant changes to the way the financial sector should change in a bid to end misconduct and ensure that organisations act in the best interests of their clients. The major themes were concentrated around culture, governance, management accountability, conduct, remuneration and the performance of regulators. Hayne’s simple message is that organisations should obey the law, not mislead or deceive and be fair in the services they provide, and ensure products are fit for purpose and be delivered with skill and care in the best interests of their clients. The upshot of Hayne’s report will provide compliance and risk teams within organisations, a more principled based mandate to “call out” corporate wrongdoing. The main message for financial institutions, senior executives and directors, is to “ignore compliance advice at your peril”.
1 citation
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.09 × 0.4 = 0.04 |
| M · momentum | 0.20 × 0.15 = 0.03 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.