Included on the list of businesses referred to ASIC and APRA are some of the nation's largest wealth managers and banks.

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National Australia Bank’s superannuation trustee, NULIS, was referred to the Australian Prudential Regulation Authority (APRA) for potentially breaching a section of the Superannuation Industry Supervision Act. Commissioner Hayne said the case study showed a “lack of insight and accountability” by senior management. NAB said it would review the report.

Commonwealth Bank was referred to ASIC over its selling of superannuation through branches.

The case study, which has already been looked at by ASIC was explored through public hearings, involved CBA receiving 30 per cent of the revenue from a super product sold through its branches.

Commissioner Hayne said the conduct may have breached remuneration provisions of the Corporations Act.

CBA-owned CommInsure was also referred to ASIC over the possibility it may not have acted in “utmost good faith” towards a customer whose claim was declined on the basis of an outdated definition of breast cancer.

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CBA said it would co-operate fully with the investigations.

Wealth management giant AMP was referred to APRA over its outsourcing of some functions of superannuation management to related parties.

Commissioner Hayne said the outsourcing arrangements “allow and encourage the trustee to be passive," and it may have been a reach of a section of the Superannuation Industry Supervision Act.

Rick Allert, chairman of AMP Superannuation Trustees, said the trustee was independent of AMP, and "the best interests of members are the priority in all of our decisions".

"We will continue to work with APRA to resolve any open matters, including those referred to in the commission’s report, and continue to strengthen the existing monitoring and supervision frameworks," he said.

Superannuation platforms owned by ANZ Bank, OnePath and Oasis, and a business owned by IOOF were also referred to APRA for its consideration after commissioner raised concerns about trustees acting in the best interests of clients.