The Royal Commission on Television received submissions from a wide range of individuals and organisations across Australia, including religious groups opposed to its introduction and media businessmen supporting it. Australia currently has two Royal Commissions under way.

Many royal commissions last many years and, often, a different government is left to respond to the findings. This is a new duty that would carry a civil penalty;Banks should review at least once a year the design of remuneration for front-line staff.Mortgage broker commissions should be banned over a period of 2 to 3 years, first by banning trail commissions on all new loans and then all other commissions;Mortgage brokers should be subject to the same laws that apply to financial advisers who give personal advice;Retail car dealers should be brought into the credit act;All ongoing fee arrangements must be renewed once a year by the client;Financial advisers must disclose their lack of independence to clients;The Greens have called for a tax on the big four banks to help the budget bottom line.The cap on life insurance commissions should be "ultimately be "reduced to zero";The exemption of commissions on general and consumer credit commissions should also be reviewed;All financial advisers who provide personal financial advice to retail clients should be subject to a single, central disciplinary body;Super trustees should be prohibited from "assuming any obligations other than those" related to being the trustee of the fund;Deduction of advice fees from a MySuper account should be prohibited;Employees should have only one default super fund, the report makes no suggestions on how the default fund be selected;Super trustees should be banned, under a new civil penalty provision, from "treating" employers in order to have their fund nominated as a default fund;The bank executive accountability regime BEAR should be extended to super trustees;The hawking of insurance products should be banned;The exemption for the sale of funeral insurance should be removed;ASIC should impose a cap on the amount of commission that can be paid to car dealers for the sale of add-on insurance;The royal commission has tabled a catalogue of breathtaking behaviour.The unfair contract terms in the ASIC Act should apply to insurance contracts;APRA should aim to ensure sound management of misconduct, compliance and other non-financial risks in its supervision of bank remuneration systems;APRA should set limits on the use of financial metrics in connection with long-term variable remuneration;Banks should review at least once a year the design of remuneration for front-line staff;The twin peaks model of financial regulation be retained;ASIC's should adopt an approach to enforcement that takes "as its starting point, the question of whether a court should determine the consequences of a contravention"; ASIC should use infringement notices "principally" for administrative failings and "rarely" as an enforcement tool where the infringing party is a large corporation;ASIC should be given the power to enforce all provisions in the SIS Act that are, or will become, civil penalty provisions;ASIC and APRA should jointly administer the BEAR Act, which should be amended to require executives to deal with regulators in an "open, constructive" way;BEAR should be extended to all APRA regulated entities, including super trustees, and to the regulators;A new oversight authority for APRA and ASIC, independent of government, should be established to assess the "effectiveness of each regulator in discharging its functions and meeting its statutory objects".Increasing the superannuation guarantee rate could have an adverse impact on employment and first homebuyer access to the housing market.The major indexes regained some ground in late afternoon though trading was volatile. The Report of the Royal Commission on Television was tabled in the House of Representatives on 28 September 1954. Aboriginal and Torres Strait Islander peoples should be aware that this website contains images, voices or names of people who have passed away. We honour and respect their ongoing cultural and spiritual connections in this country. They can summon and cross-examine witnesses under oath and can offer indemnity to individuals who cooperate. Recently, the government of South Australia called a Royal Commission into the nuclear fuel cycle.Royal Commissions usually fit two categories: those that are primarily investigative, seeking to uncover the truth about something, and those that are advisory, seeking to assist the formulation of government policy.

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