Govt to respond to financial review soon

The Turnbull government is close to responding to the recommendations of the financial system inquiry that was chaired by former banker David Murray.

Scott Morrison said since becoming treasurer, he and new Assistant Treasurer Kelly O'Dwyer have touched base with some key people in the financial sector, continuing the process of their respective predecessors Joe Hockey and Josh Frydenberg.

"We will be making some announcements about that in the not too distant future," Mr Morrison told reporters in Canberra on Tuesday.