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The Hayne Royal Commission and financial sector misbehaviour: Lasting change or temporary fix?

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  • Kevin Davis

Abstract

The Hayne Royal Commission into Australian financial sector misbehaviour reported in February 2019. It is, however, unlikely to provide a lasting solution to problems of financial sector misbehaviour. It has identified a number of types of misbehaviour, their ‘proximate causes’ and recommended solutions to those. But, reflecting its limited mandate and limited time, it was unable to investigate the complex question of whether there are more deep-seated, fundamental issues driving financial sector misconduct, both in Australia and globally. This article argues that there are, and that consequently the benefits from the Royal Commission will be relatively short-lived, with misconduct likely to resurface, albeit in different guises. JEL Codes: G20, G28, K40

Suggested Citation

  • Kevin Davis, 2019. "The Hayne Royal Commission and financial sector misbehaviour: Lasting change or temporary fix?," The Economic and Labour Relations Review, , vol. 30(2), pages 200-221, June.
    • Handle: RePEc:sae:ecolab:v:30:y:2019:i:2:p:200-221
    DOI: 10.1177/1035304619847928
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    References listed on IDEAS

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    More about this item

    Keywords

    Financial regulation; financial sector misconduct; Royal Commission;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

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