Original article by Richard Gluyas
The Australian – Page: 19 & 23 : 3-Oct-18
The financial services royal commission has selectively released information on the admissions of misconduct by the major banks. Commissioner Kenneth Hayne requested the information in early 2018, and a spokesman for the inquiry has downplayed suggestions that it may shortly release the banks’ full submissions. Industry sources have indicated that the potential for class actions against the banks will increase if the so-called "confession statements" are fully disclosed.
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AMP LIMITED – ASX AMP, CLAYTON UTZ, FEDERAL COURT OF AUSTRALIA