The inquiry says "The investigation [into Stephen Lawrence's murder] was marred by a combination of professional incompetence, institutional racism and a failure of leadership by senior officers", and highlights the following glaring flaws in police procedure:
First aid delivered at the scene was inadequate and officers were badly organised in the first hours after the killing.
The murdered boy's parents, Neville and Doreen, were patronised and ignored by detectives.
The failure to arrest the prime suspects quickly - which would have been justified by tip-offs - was a "vital and fundamental" mistake.
Identity parades which might have provided vital evidence were botched and searches of the suspects' houses were inadequate.
Claims that "corruption and collusion" were behind the failure to convict Stephen's killers were unproven.
The report's 70 recommendations aimed at revolutionising police relations and stamping out racism include:
bringing the police under the Race Relations and Freedom of Information Acts for the first time;
permitting the disciplining of officers up to five years after they have retired;
giving the Court of Appeal power to permit prosecution after acquittal where fresh and viable evidence is presented.
Sir William also left open the possibility that five key suspects in the stabbing be prosecuted for perjury, although he personally took the view there was not enough evidence.