Regulator could hold banks inquiry
AAP
The federal government could instruct the corporate regulator to hold an inquiry into the banking and financial sectors as a way to stem momentum for a royal commission.
Treasurer Scott Morrison released a fact sheet on Tuesday that compares the powers of a royal commission and the Australian Securities and Investment Commission.
Highlighted in bold and underlined is that "ASIC can be directed by the minister to commence an investigation in the public interest".
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