Let's see through the Banking Royal Commission reforms
Together, we have an opportunity to pass two crucial royal commission recommendations: to compensate victims of financial misconduct and to hold finance executives who do the wrong thing to account with serious penalities.
The previous government’s proposed laws weren’t strong enough and weren't passed before the election. Now, the new government has an opportunity to strengthen these laws when parliament returns to ensure finance execs aren’t let off the hook for financial misconduct and to ensure victims are compensated.
In the financial year following the banking royal commission, 54 big four bank executives earned over $101 million, while not a single fine was handed out for misconduct. It’s clear that the current system isn’t working.
We know the government supports these reforms, so let’s strengthen them and pass them without further delay. Add your voice by calling on the government to pass strong banking protections that protect people and fix the banks.