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The much-anticipated final report of the royal commission into misconduct in the banking, superannuation and financial services industry will have a 鈥渕onumental impact鈥� on the sector, according to researchers at the University of Sydney.

Experts at the University of Sydney's and are also hoping that it will provide the industry with 鈥渃lear guidance on ways to enhance its integrity鈥�.

After 68 days of public hearings involving 134 witnesses and the tendering of 6,500 exhibits, the Royal Commissioner, Kenneth Hayne, a former High Court judge, will deliver his report, with the government expected to release it publicaly next Monday.

What impact could the banking royal commission's report have?

鈥淚t will no doubt have a monumental impact across the Australian financial system,鈥� predicted , Associate Professor in finance at the Business School.

鈥淗opefully, it will also provide clear guidance on how to enhance the integrity of the financial services industry.鈥�

While highlighting the 鈥渂ad behaviour of banks鈥�, 聽from the Business School said the commission 鈥渉as also focused attention on a severe lack of financial literacy among the Australian population鈥�.

鈥淎lthough Commissioner Hayne has already sought to ensure, among other things, more responsible lending in the future, it is highly important that consumers are aware of the risks of entering into any financial agreement,鈥� Dr Grant said.

How might the banking royal commission impact the corporate regulator?

Professor聽Jason Harris聽from Sydney Law School said, 鈥渢he royal commission has thrown doubt on the appropriateness of companies pursuing the goal of shareholder profit above all else.鈥�

鈥淭he royal commission鈥檚 report should also be a strong wake up call for the corporate regulator ASIC to change its approach to enforcing the law and taking on the tough cases,鈥� Professor Harris added.

The Business School鈥檚 Professor Clinton Free agrees: 鈥淭he irony of the banking royal commission is that it may end up having its greatest impact on ASIC," he said.

鈥淧olitically, the report comes at a time when it can鈥檛 be ignored,鈥� Professor Free continued.

鈥淟abor are already strongly signalling a commitment to prosecuting Commissioner Hayne鈥檚 recommendations, [so] it is hard to see the government ignoring them.鈥�

How will superfund members and executives react?

The Business School鈥檚 superannuation specialist, , said, 鈥淪uperfund members are hoping for recommendations that will help resolve serious conflicts of interest鈥� revealed during Commission hearings.

, who is a specialist in executive remuneration at Sydney Law School, said, 鈥淓vidence before the Commission confirmed Australia's largest banks and financial service companies聽have often been unclear as to why they paid bonuses to executives when there was evidence of numerous failings鈥�.