Royal Commissioner Kenneth Hayne has announced that various employment agreements will not be allowed to inhibit the Royal Commission’s work, in a move welcomed by the Finance Sector Union of Australia (FSU).
Hayne was clear that non-disclosure, employment and separation agreements between financial services corporations and their workers would not prevent evidence being given to the inquiry, quelling fears that banks and providers would try and silence their employees.
FSU national secretary, Julia Angrisano, praised Hayne for planning to use his powers to make sure questions are answered and documents produced.
She said that it was positive that the Commission had suggested that any attempt by a bank or financial services provider to use legal agreements to gag employees would lead to questions about their motives for doing so.
The FSU said that banks and providers should view the announcement as a warning.
Angrisano was also hopeful that the Commission would “finally reveal the ‘misconduct and conduct falling below community expectations’ which have plagued the banking and financial services sector in recent years,” especially regarding inappropriate or unsuitable lending.