Labor pushes for new CBA planning inquiry

by AB09 Jul 2014
CBA could be set for a new Senate inquiry on the back of criticisms of its handling of a financial advice scandal.

The Australian Financial Review has reported that Labor will push for a new Senate inquiry into CBA's conduct, and will try to block the Coalition's mooted FoFA reforms.

Labor will move for the Senate Economics Committee to report again on CBA's actions relating to the misconduct of advisers and planners in its financial planning business, the AFR said.

“It absolutely beggars belief that the government is watering down consumer protections in financial advice, particularly in light of this disgraceful episode,” Opposition Leader Bill Shorten said.