Financial innovation has a long history of success, delivering benefits that are widely felt in the industry and across the broader economy. Recently, however, some financial innovations have not been viewed so favourably. This report acknowledges that some financial innovations were centrally involved in the events leading up to the financial crisis and ensuing recession. Indeed, the project was commissioned to examine innovation in financial services in order to understand how or why it may sometimes contribute to negative outcomes. The objective was to provide recommendations that could allow the industry to reduce the future likelihood of such negative outcomes from innovation.[…]