Is Australia’s Financial System Ready for the 21st Century?

We are excited to welcome David Murray AO, former CEO of the Commonwealth Bank and Chair of the 2014 Financial System Inquiry, to CIS for a lunch event in Sydney on Tuesday, 3 December, where he will discuss the legacy of the Inquiry and its impact on Australia's financial sector. Murray will be joined by Simon Cowan, Research Director at CIS, to explore the challenges and opportunities facing Australia’s financial system 10 years on from the 2014 Inquiry.

A buffet lunch will be provided, with soft/alcoholic beverages available. Options will be available to cater to different tastes; please state any dietary preferences during the booking process.

It’s been 10 years since the release of the 2014 Financial System Inquiry. Led by David Murray, the inquiry was tasked with “examining how the financial system could be positioned to best meet Australia’s evolving needs and support Australia’s economic growth.”

Murray responded with comprehensive “blueprint for an efficient and resilient financial system over the next 10 to 20 years, characterised by the fair treatment of users”.

Since then the financial system has experienced significant strain. The Royal Commission into the Banking sector exposed some serious issues for example, while the superannuation sector has changed and grown enormously. There is also a current review into the sector.

David Murray AO was the CEO of Commonwealth Bank from 1992 to 2005. He was Chairman of AMP from 2018 to 2020. He was the inaugural Chairman of the Future Fund from 2006 to 2012. He was the Chair of the Financial System Inquiry, also known as the Murray Inquiry.

is Research Director at CIS. He is a leading commentator on policy and politics, with a regular column in the Canberra Times newspaper and his latest work includes Attitudes to a post-Covid Australia and Millennials and Super: the case for voluntary superannuation.

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