Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Brandis. In 2014, the Senate economics committee recommended a royal commission into the financial advice scandal at the Commonwealth Bank. Since then, further scandals involving financial advice have been uncovered at the National Australia Bank, ANZ Bank and Macquarie Bank. IOOF are being investigated for insider trading. ANZ Bank have been charged with rigging interest rates, and, again, the Commonwealth Bank appears to have unfairly denied life insurance claims. This is not just a few bad apples, as Senator Cormann once said in this chamber. This is systemic and a cultural issue. What will it take for this government to establish a royal commission into crime and misconduct in the financial services sector?