Is a royal commission needed to investigate banking scandals?

Labor has promised that if elected, they will establish an investigation into a string of high-profile scandals involving Australia’s big banks. Australia’s banking industry is pushing against the plan to establish a royal commission, saying the regulator ASIC can adequately fulfil the role of watchdog. But the experts say ASIC is under-resourced and ineffective.

Story features:

Dr Rob Nicholls, Senior Lecturer at the School of Taxation and Business Law, University of New South Wales

Professor the Hon. Stephen Martin, Chairman, Bank of China (Australia) Ltd

Image: ATM Keypad 1 by William Grootonk on Flickr