1 Who are the stakeholders that should be considered in the construction of pay for performance schemes? On the 14th December 2017 the Australian Governor-General signed the Letters Patent to establish a Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The Inquiry’s mandate included the investigation of whether there had been any misconduct by financial institutions that should be referred to the criminal justice system; ‘whether any conduct, practices, behaviour or business activities by financial services entities fall below community standards and expectations’; and whether any findings in respect to these matters might be attributable to practices ‘including risk management, recruitment and remuneration practices, of a financial services entity’ (Cosgrove 2017).