Royal Commission Final Report

ASX
Release

MONDAY 4 FEBRUARY 2019

ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND
FINANCIAL SERVICES INDUSTRY FINAL REPORT
Westpac Group Chief Executive Brian Hartzer said today’s release of the Final Report by the
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services
Industry is a turning point in the ongoing rebuild of community trust in the industry.
He said recommendations developed through this significant inquiry will guide decision making
in financial services for years to come.
The Royal Commission has made 76 recommendations. Westpac will now take the time to
consider the recommendations fully, taking into account the response from policy makers and
regulators. We will provide further updates to the market as appropriate.
Mr Hartzer said, “The Royal Commission has been a confronting, thorough and important
process.
“Westpac has already taken steps to address some of the matters that are referred to in the
report, including our approach to dealing with customer complaints and leading the industry in
moving away from grandfathered commissions. The recommendations in the report will help us
build on this progress.
“We will continue to engage constructively in the reform process and support the essential role
this industry plays in the Australian economy.
“We will work with policy makers and regulators on the best path forward for customers and the
industry. Our focus remains on learning from the mistakes of the past and preventing them from
happening again,” Mr Hartzer said.
The three volumes of the Final Report are now available on the Commission’s website at:
https://financialservices.royalcommission.gov.au/Pages/default.aspx




For further information
Andrew Tubb
Media Relations
M. 0411 014 771
Andrew Bowden
Investor Relations
T. 02 8253 4008
M. 0438 284 863