Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Clearly Senator Whish-Wilson had pre-written his supplementary question and did not take into account the answer I gave. Mr Murray and the financial systems inquiry are not, never have been and never will be asked to provide advice to the government on whether or not there should be a royal commission into the Commonwealth Bank.

David Murray, who is a highly-regarded Australian, as you have just indicated, has not been working for the Commonwealth Bank for about nine years now. He is doing an important job for the government in chairing the financial systems inquiry which is looking at, among other things, regulatory arrangements in our financial system. Obviously, the future and ongoing role of ASIC and the performance of ASIC in that context as a regulator in our financial system is an important part of that scope. We have full confidence in Mr Murray's capacity to perform that job with distinction.