Coun­cils eye re­port on fi­nan­cial ser­vices

Stirling Times - - News -

BAYSWA­TER and Stir­ling coun­cils will mon­i­tor the out­comes of the Royal Com­mis­sion into mis­con­duct in the bank­ing, su­per­an­nu­a­tion and fi­nan­cial ser­vices in­dus­try.

Gov­er­nor-Gen­eral Peter Cos­grove es­tab­lished the Com­mis­sion in De­cem­ber and Com­mis­sioner Ken­neth Madi­son Hayne will sub­mit an in­terim re­port by Septem­ber 30, to pro­vide a fi­nal re­port by Fe­bru­ary 1 next year.

Both coun­cils unan­i­mously voted for of­fi­cers to pre­pare a re­port on the im­pli­ca­tions of chang­ing the in­vest­ment pol­icy to move away from fi­nan­cial in­sti­tu­tions that have acted in­ap­pro­pri­ately and below com­mu­nity stan­dards and expectations at their re­spec­tive coun­cil meetings.

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