Our organisation is fortunate to have many economically and financially literate people, active in social credit. Thus, we should begin work on a submission to be made to the royal commission into the Financial system, if this ever sees the light of day. At present, Turnbull opposes it, but the Labor party is championing the idea. Back in August Shorten sent a letter to Turnbull outlining some of the terms of reference, or issues, which would need to be examined. These include:
1. The extent of illegal and unethical practices within Australian financial services.2. Do Australian financial services adequately meet their duty of care to customers?3. How does the ethical, cultural standards and business practices of Australian financial services impact on the behaviour and practices of these institutions?4. Is Australia’s regulatory framework adequate to police illegal and unethical behaviour in the Australian financial services institutions?5. How does Australian experience in all of the above compare or contrast to international experience?6. Any other relevant issues.