on air now

Banking Royal Commission gets underway today

Customers and whistle-blowers will have their say on misconduct in the banking sector, as the Royal Commission gets underway.

The Prime Minister resisted calls for a public inquiry into the financial sector but eventually caved late last year, ordering the $75-million probe.

Commissioner Kenneth Hayne QC will deliver his opening statement in Melbourne this morning.

Witnesses will then be asked to give evidence about wrongdoing by banks, insurance and superannuation companies, before the Commission wraps up hearings early next year.

But concerns have been raised about whether the Royal Commission will get to the heart of problems within the sector, due to a restricted budget, a short timeline and broad terms of reference.

Alan Jones speaks with The Australian’s Glenda Korporaal about whether the Royal Commission will be a success.

Click PLAY below for the full interview