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Banks royal commission sticks to deadline

Banking royal commissioner Kenneth Hayne QC appears unlikely to request an extension of the one-year inquiry.

The commission will shift its focus from past misconduct in the banking, superannuation and financial services industry to policy issues from late September, when it stops taking public submissions and hands over its interim report.

Mr Hayne will submit the interim report by September 30, as required.

A timeline for future hearings and other information released on Friday indicates the former High Court judge also plans to stick to the February 1, 2019, deadline for his final report.

The commission has set a September 28 deadline for the public to share their stories about their experiences in the banking, superannuation and financial services industry.

It will hold another two public hearings before moving from past experiences to proposals about what should be done in response to the issues raised or the conduct it has uncovered.

"The conclusion of round six will mark an appropriate time to close the current online public submission form and for the commission to shift focus from examining past experiences to looking at policy-related issues which have been identified," it said.

The submission deadline and early news of its future hearing dates appears to indicate Mr Hayne does not plan to ask for more time.

Previous royal commissions have been extended, including those into trade unions and institutional responses to child sexual abuse.

The financial services royal commission's next public hearings will focus on superannuation and insurance, each running for two weeks in August and September respectively.

The commission plans to devote October to its behind-the scenes work, including reviewing submissions.

It will hold a two-week hearing in late November focusing on policy-related issues.

The commission said its interim report will identify policy issues out of the first four hearing rounds, which focused on consumer lending, financial advice, loans for small businesses and financial issues affecting farmers and indigenous Australians.

It will take public submissions about policy issues in its interim report and the superannuation and insurance hearings.

The $75 million inquiry has so far received 7337 submissions from consumers, organisations and experts.

Austrlaian Associated PressBack to Breaking News

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