Whistleblower Jeff Morris says ‘nothing will change’ without a Royal fee into banks

the man who exposed the Commonwealth financial institution economic making plans scandal has lined up behind labor calling for a Royal fee into banks.

financial planner Jeff Morris — who 8 years in the past turned whistleblower towards his organization prompting a damning Senate inquiry — is set to star in a tv and on-line advertising and marketing marketing campaign backing a banking Royal commission.

Borrowing a line from hard work, who have vowed to keep a Royal commission into economic zone misconduct, Mr Morris claimed top Minister Malcolm Turnbull turned into “at the facet of banks”.

within the equal advertisement he labels the Australian Securities and Investments fee “vain”.

“nothing will trade with out a Royal commission due to the fact not anything has modified in the 8 years considering that I blew the whistle,” he stated.

Mr Morris, a preceding Liberal voter and birthday celebration member, advised news Corp he changed into not concerned with labor.

He stated he had determined he ought to now not assist the Liberal party due to the fact they took donations from banks however “turned a blind eye to their behaviour”.

“It started for me 8 years ago,” he said.

“aged human beings got here to me; $500,000 in their savings had been vaporised.

“It was a two and a half of-hour meeting. They physically broke down in my office after which I saw the bank lying to them and trying to cowl it up.”

earlier this week exertions jumped on news ASIC had released legal action in opposition to the national Australia bank over fee rigging, claiming it was further proof of the need for a Royal commission.

The Coalition have alternatively proposed to enhance ASIC’s powers beneath a person-pays funding version that might fee banks an additional $120 million over 4 years.

Mr Turnbull the day before today stuck to his line that ASIC turned into “doing its activity”.

“The watchdog is at the activity, the watchdog is sinking it fangs into a few suspected culprits and doing his process, that’s what it ought to do,” he stated.