Ernst & Young (EY) said the royal commission final report is set to deliver significant changes to the Australian financial sector, and urged financial institutions to take a proactive approach in responding to the proposed reforms.
“The final report delivered a pragmatic, common-sense conclusion to the royal commission proceedings and, with the government committing to take action on all 76 recommendations, financial institutions should be proactive in considering their implementation plans,” said Graeme McKenzie, EY Oceania Financial Services Leader.
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