Royal Commission fallout: former ACCC boss Allan Fels says corporate regulator should be stripped of banking oversight

Former ACCC chairman Professor Allan Fels says corporate regulator ASIC should be stripped of its bank oversight powers. 

In the wake of the financial services Royal Commission interim report, Professor Fels says ASIC is weak and too close the the institutions it regulates. 

ABC's Peter Ryan says Royal Commissioner Kenneth Hayne remains on track to deliver his final report in February. 

Here's my analysis from this morning's AM