Australia banking inquiry: 'Scathing' report calls for industry overhaul bbc.com

A national inquiry into Australia's scandal-plagued financial sector has proposed sweeping changes in a bid to end rampant industry misconduct. The Royal Commission spent 12 months investigating wrongdoing by some of the nation's biggest institutions. It exposed revelations that caused shock nationwide. Prominent scandals included the charging of fees for no service – sometimes to dead customers.The government said it would act on all 76 recommendations made by the inquiry. The Royal Commission – Australia's highest form of public inquiry – came after a decade of scandals that shook confidence in the country's largest industry.