Damning revelations from Australia’s Royal Commission
By Kirsten Hastings, 27 Apr 18
The second week of Australia’s Royal Commission into financial advice was not a let-down after a jaw-dropping first week. Click through the slides below to see what happened…
The head of Dover Financial, Terry McMaster, collapsed while giving evidence on Thursday.
In a terse exchange, counsel Mark Costello accused McMaster of giving a misleading answer, with commissioner Kenneth Hayne pressing the financial planning boss to confirm that the firm’s client protection policy document was misleading or deceptive.
The document showed that Dover had developed a policy to make sure it was not liable for actions by its planners.
Costello put to McMaster that there was a culture in Dover that “client complaints were to be fought at all costs”.
After McMaster collapsed, proceedings were halted and an ambulance was called. He was awake and alert as he was wheeled away on a gurney.
McMaster will not be required to give further evidence.