In the wake of the royal commission, the government has asked Mr Samuel to review the effectiveness of the Australian Prudential Regulation Authority which oversees banking and other financial services.
Mortgage brokers have hit out at the royal commission's recommendation to scrap their commissions, saying it will play into the hands of the big banks by making customers less likely to compare loans and find the best interest rate.
The report made very strong criticisms of both regulators for failing to prevent malpractice in the industry.
"The only major bank that he really had a go at was the National Australia Bank", Michael said.
In the view of royal commissioner Kenneth Hayne, the bank chaired by Ken Henry "stands apart" from the other three as the one that still still doesn't quite get all the fuss about the fact it was charging fees for no services.
NAB's shareholders delivered the biggest ever "no" vote on the bank's remuneration at the annual meeting last previous year.
But mortgage broking companies are getting annihilated.
"Instead, the entity contents itself with statements of goal, vision or values, too often expressed in terms that say little or nothing about those basic standards that underpin both the concept of misconduct and the community's standards and expectations".
However, wealth managers, whose reputations were shredded in the inquiry, were punished with IOOF Holdings Ltd stock closing down 4.5 percent and AMP sliding to a record low.
"At this stage, it does not appear to be the case".
The federal treasurer has rejected any suggestion the big banks escaped from the Royal Commission lightly.
The government is fighting for its survival with opinion polls suggesting an election victory for the centre-left Labour party.
Mortgage broker Chris Chardon says the banks will be the big winners from cuts to brokers' commissions.
It might read: "We now undertake to ASIC and APRA that we will implement all the recommendations of the Hayne report and that we will henceforth from today conduct our affairs in accordance with those recommendations".
While Prime Minister Scott Morrison has also said he will take up the recommendations, he has warned against overreaching and cutting off credit flows.
"More particularly, I was not persuaded that NAB is willing to accept the necessary responsibility for deciding, for itself, what is the right thing to do, and then having its staff act accordingly", he said.
Hayne in his final report released on Monday singled out NAB boss Andrew Thorburn and chairman Ken Henry for arrogance over wrongdoing.
"I thought it telling that Dr Henry seemed unwilling to accept any criticism of how the board had dealt with some issues", Commissioner Hayne wrote, adding he was "not as confident as I would wish to be that the lessons of the past have been learned".
In another interview with Melbourne's 3AW radio station, Thorburn again admitted the bank had not fixed mistakes fast enough, but said it had put in changes "to put our customers first again" before the report was handed down.