The Turnbull government is establishing a royal commission into misconduct in the financial services industry. #auspol @AAPNewswire
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"We have much to be proud of, but also much to take care of. We need to maintain the stability of our banking and financial systems," PM @TurnbullMalcolm tells reporters.
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"A royal commission will not be able to recommend comprehension for individual cases..."
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"But it will be able to make recommendations the government can consider in the interests of making our financial system the most competitive, transparent and accountable in the world."
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Treasurer
@ScottMorrisonMP describes establishing the royal commission as a "regrettable but necessary" action.#auspolShow this thread -
"Politics is doing damage to our banking and financial system, and we are taking control," Mr Morrison says.
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