Final words, Hayne retires for summer
There's no need to draft any more submissions for the Royal Commission into misconduct in banking; they are not wanted and they may not be read.Following one more half-day of hearings with APRA chief Wayne Byres, the commissioner Kenneth Hayne drew the public phase of his work to a close on Friday.Warranting 406 articles on its work this year, the Royal Commission held hearings across 68 days, all but three weeks of them in Melbourne.Rowena Orr, counsel assisting, in her summary said: "we have heard evidence from 134 witnesses, some of whom gave evidence more than once. We have tendered almost 400 witness statements and we have tendered more than 6500 exhibits, including the exhibits to those witness statements."Hayne made a short closing speech."This has been a public inquiry. The proceedings have been open to the public and they've been streamed. They've been the subject of reports and comment in all forms of the media. And so they should have been. "The Commission has sought to do what it can to assist the media in performance of their job but we've done that by making information available generally to the public. "The Commission has not sought to influence how the media has reported. We've not backgrounded, we've not provided the media or anyone with any information about what witnesses are to be called or subjects covered except by posting what we have on the website. "We've not commented on what has occurred in the course of evidence."It has been for the media and for the media alone to decide what will be the subjects of their reports, and what, if any, comments they may choose to make about what the Commission has done. And that, again, is as it should be. "But it is also right that I recognise the role that the media has played in this being a public inquiry by reporting on the work of the Commission."Hayne must now compile and submit his final report by the beginning of February, a document bound to be highly political. Given the state of public opinion polls, it will be a new Australian Labor government that follows up most of