The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has raised serious issues about behaviour that has further eroded the trust of Australian consumers. FINSIA shares the concerns of the community and the vast majority of people within financial services with the behaviours and practices revealed through the Royal Commission, which are unacceptable.
It is the industry’s professional duty to deliver fair, transparent and prudent services that customers can trust. FINSIA's approach is to focus on the individuals in the financial services sector to improve their skills and expertise, standards and ethics and community responsibilty. This model of self-regulation can restore community trust in banks.
FINSIA's initial insights into the Royal Commission Interim Report
Chris Whitehead, CEO & Managing Director of FINSIA, shares FINSIA's initial insights into the Royal Commission Interim Report. The industry needs to take a leading role in shaping culture to ensure a better future by:
- Raising standards of professionalism
- Abiding by an industry wide code of professional conduct
- Maintaining high levels of competency by achieving gold standard qualifications in banking
- Support an independent professional membership body