FactCheck: does ASIC already have the powers of a royal commission and more?

ASIC has the powers of a royal commission and, in fact, it has greater powers than a royal commission. – Treasurer Scott Morrison, speaking to reporters, April 8, 2016.

Opposition Leader Bill Shorten has promised to set up a royal commission into misconduct…

Source: FactCheck: does ASIC already have the powers of a royal commission and more?