2.2 – Peter Kell, ASIC’s Deputy Chair Testifies at the Banking Royal Commission

Peter Kell, deputy chair of the Australian Securities and Investments Commission (ASIC), gives evidence on the financial advice industry, claiming that 90% of Australian financial advisers ignored clients' best interests in a recent review. He states that the corporate regulator does not believe the financial advice industry is a “profession” yet because it has not reached the standards of a profession. Recorded on 16 April 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.