Royal Commission Interim Report

Media
Release

28 SEPTEMBER 2018



ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND
FINANCIAL SERVICES INDUSTRY INTERIM REPORT


Westpac Group today noted the release of the Interim Report of the Royal Commission into
Misconduct in the Banking, Superannuation and Financial Services Industry.

Westpac Group Chief Executive Brian Hartzer said: “This report marks a significant step in the
Royal Commission process. We’re reviewing it carefully and are focused on learning from the
mistakes of the past and preventing them from happening again.

“The Royal Commission has identified many examples of misconduct across the industry. I
apologise to any customers who have been impacted by mistakes that we have made”.

“While we’ve introduced a number of reforms, including to our remuneration structures, our
approaches to dealing with customer issues and removing grandfathered commissions
attributable to BT products, we know we still have more work to do.”

Westpac Group will be responding fully to the Interim Report as part of the submission process.

“Westpac has engaged fully and constructively with the Royal Commission process and will
continue to do so,” Mr Hartzer said.

For Further Information
David Lording
Media Relations
M. 0419 683 411