Extensive efforts under way to simplify the notoriously complicated Corporations Act must be completed to ensure the Hayne royal commission has a lasting impact on the economy, consumer groups say.
“This is a fundamental step to improve financial services, responding to the Hayne royal commission,” said Gerard Brody, CEO of Consumer Action Law Centre, whose advocacy helped trigger the Hayne inquiry. Mr Hayne, who is a member of the ALRC’s advisory committee, said the spread over many acts justified reform. “The very size of the task shows why it must be tackled,” he said in the February 2019 royal commission final report.
Hayne. The one who wanted to kill the mortgage broking industry which would have killed competition.
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