Govt considers ASIC report

The federal government is playing down the prospect of a royal commission to probe the Commonwealth Bank financial advisers who lost clients’ money.

Finance Minister Mathias Cormann said he’d received the parliamentary committee report into the issue and was carefully considering its 61 recommendations.

“When I work through it, we’ll make a full response,” he told ABC radio on Friday.

The recommendation for a royal commission was not unanimous with Liberal senator David Bushby dissenting, Senator Cormann said.

“He did make a very persuasive argument that yet another inquiry might not be the best way forward,” he said.