Topic: Assessment of the Australian Government’s Four Pillars Policy in the Banking Industry. Task Details: There are four big banks in Australia: ANZ, Commonwealth Bank, NAB and Westpac. To ensure competition in the banking industry, the Australian Government has a “Four Pillars Policy” that prevents the four big banks in Australia from merging. Students will research the Four Pillars Policy and produce a report that: o Discusses the history, the reasons for instituting and implementing the policy, and the arguments for and against it. o A carefully reasoned opinion on whether you agree with the Four Pillars Policy. o Given the outcomes of the 2018 The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, what direction do you recommend the Government take with the Four Pillars Policy — maintain, amend or abandon it?