It is clear now that Kenneth Hayne's Financial Services Royal Commission will end up as the most influential financial services royal inquiry since the original Campbell Inquiry of the Fraser years, which gave us the current shape of the Australian financial system.

The changes that will flow from the commission will surpass anything from the Murray Inquiry commissioned by the Abbott government in 2014, and the Wallis Inquiry back in 1997. Indeed, it may well role back some of the more asinine neoliberal policies implemented in the wake of Wallis -- particularly the neutering of the ACCC to regulate on behalf of financial consumers.