Former ACCC boss Allan Fels says energy asset divestiture powers need to be extended to major banks

Former ACCC chairman Prof Allan Fels has backed tough new powers for the competition regulator to force energy companies to divest or sell some assets. 

But Professor Fels says powers should be across the board to include the major banks given revelations from the financial services Royal Commission. 

ABC's Peter Ryan says the extreme measures are the latest market intervention for a free market government.

Here's my interview with Allan Fels from this morning's AM program