The Senate's economics committee is to hold an inquiry into the Australian Securities and Investments Commission and its handling of allegations of misconduct at Commonwealth Bank's financial planning arm.Senators John Williams, Doug Cameron and Christine Milne proposed the inquiry, the terms of which are broadly worded and do not explicitly mention Commonwealth Bank.The committee is to report on ASIC's enabling legislation, and "whether there are any barriers preventing ASIC from fulfilling its legislative responsibilities and obligations", as well as "the accountability framework to which ASIC is subject, and whether this needs to be strengthened."Over recent weeks, Fairfax Media has reported extensively on delays by ASIC in responding to matters involving CBA financial planner Don Nguyen.In October 2011, ASIC disqualified Nguyen from providing financial services for seven years.At the time, ASIC said Commonwealth Financial Planning, for whom he worked, must review its risk management system and regulatory compliance.