The Treasurer has announced the final terms of reference for the Government’s Financial System Inquiry.

The Inquiry panel will consist of Mr David Murray AO (Chair), Professor Kevin Davis, Mr Craig Dunn, Ms Carolyn Hewson AO and Dr Brian McNamee AO.

Submissions will open in early January and close at the end of March 2014.

The Inquiry will publish an interim report in mid-2014 setting out initial findings.

A final report is to be provided to the Treasurer by November 2014.

UPDATE 24 March 2014: International Panel named