Creampuff..........
What’s the inquiry going to find out, that the Committee or its members haven’t already been told?
I'm really not too sure. But if, as Air Ace says,
"Never hold an inquiry unless you first know the outcome."then perhaps the Committee and its members already know that the new regulatory system IS broken and that it seems to many industry participants that at this point its beyond repair.
We can only hope so, and that they surprise us all by deciding to do something meaningful to remedy the situation. However, given the past inertia at achieving any real progress or reform, then the answer to your question:
What is the government realistically going to do in response to the outcomes of the inquiry?
is realistically, and unfortunately, probably going to be
NOTHNG!