There have been calls in recent times for an added level of regulation of banks following lending, foreign exchange, and financial planning controversies between 2009 and 2017, highlighted in 2016 Senate inquiries. Referring to white collar crime, ASIC's Chairman Greg Medcraft said 'This is a bit of paradise, Australia, for white collar In December 2017 the Australian Government established the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry to inquire into and report on misconduct in the banking, superannuation and financial services industry. The [https://web.archive.org/web/20181028225606/https://financialservices.royalcommission.gov.au/Pages/interim-report.aspx interim report from the Royal Commission prompted the industry to revamp its banking code. The code has been criticised as needing to be legally binding, strictly liable and breaches criminal.