Consumer watchdog says it is clear AMP and Commonwealth Bank ‘feel no compulsion to abide by the law’

The corporate regulator should be given stronger powers, and the ability to impose larger penalties, to help it intervene more quickly when it discovers bank misconduct, the consumer group Choice says.

The call comes after another week of shocking revelations from the banking royal commission in which Commonwealth Bank admitted some of its financial advisers have been charging dead clients for financial advice.

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