Watch FIFA World Cup 2026™ LIVE, FREE and EXCLUSIVE

Banks already heavily regulated: PM

The major banks are facing calls for a royal commission.

The major banks are facing calls for a royal commission. Source: Getty Images

Prime Minister Malcolm Turnbull says the banking sector is already heavily regulated with ASIC having stronger powers than a royal commission.


There are reports more Nationals M-Ps may back calls for the federal government to launch a Royal Commission into Australia's banking and financial sector.

 

Fairfax media reports name MPs George Christensen, Luke Hartsukyer and Ken O'Dowd as being open to supporting a public inquiry.

 

It comes after Prime Minister Malcolm Turnbull dismissed Labor's proposal, saying industry regulators were doing their job well.

 

But Labor says that, if elected, it would ensure a Royal Commission investigates allegations of misconduct in the wake of a series of scandals affecting the sector.

 

Government backbenchers Warren Entsch and John Williams, as well as the Greens, have expressed support for a probe.

 

 


Share

Follow SBS Korean

Download our apps

Listen to our podcasts

Get the latest with our exclusive in-language podcasts on your favourite podcast apps.

Watch on SBS

Korean News

Watch it onDemand

Watch now