ASIC's Deputy Chair testifies at the Banking Royal Commission
Channel: Banking Royal Commission
Date: 2018-05-15

[2.2] Peter Kell, deputy chair of the Australian Securities and Investments Commission (ASIC), gives evidence on the financial advice industry, claiming that 90% of Australian financial advisers ignored clients' best interests in a recent review. He states that the corporate regulator does not believe the financial advice industry is a “profession” yet because it has not reached the standards of a profession. 

Recorded on 16 April 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

Witness Statement:
https://bit.ly/2Ih8phu

Exhibit documents:
https://bit.ly/2wzSHsm

Transcript:
https://bit.ly/2GcNRRz

Testimony held during the second round of public hearings on financial advice in Australia at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

This video was extracted from the Royal Commission’s webcast archive and republished here as permitted under its Creative Commons Attribution 4.0 International licence. The source file, containing the raw archived webcast of the entire day of hearings, was trimmed to only retain the testimony of the above witness(es) and remove any breaks and offline periods of the webcast. For testimonies held over multiple days, separate source files would have been combined to create one consolidated video.

Video Source: https://bit.ly/2XBSBKh
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Creative Commons license information: https://bit.ly/1rMF155

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© Commonwealth of Australia 2018.

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