The problems identified in the Royal Commission into Misconduct in the Banking, Insurance, Superannuation and Financial Services Industry (Royal Commission) have all been solved by the recent changes to the law that implement the 72 recommendations made in that report.

Required:

Critically assess this statement.In other words, do you agree or disagree?

In your answer, discuss

a.the 'misconduct' identified in the Royal Commission Report;

b.the recommendations in relation to that specific conduct; and

c.five recommendations you think important and the degree to which they have been implemented.