Recent reviews by ASIC of banks and others over the quality of their financial advice show a near unbelievable incidence of crappy, conflicted advice - and a portent of yet more expensive refund programs and sanctions for Australia's biggest banks.Yesterday's hearing of the Royal Commission into misconduct in banking drew out fresh data from the corporate regulator.Peter Kell, deputy chair of ASIC told commissioner Kenneth Hayne of "some reviews in recent times that have looked, amongst other things, at advice including whether it complies with the best interest duty and related obligations."One of these reviews focused on" superannuation through the large vertically integrated firms. "We found there that when we looked at the files, a file review, around three quarters, 75 per cent of the files, did not demonstrate compliance with the best interest duty and related obligations," Kell said.Kell followed up with an even more jaw dropping metric."More recently, we've done a survey of advice around establishing self-managed super funds. We've found there, unfortunately, an even higher rate of advice that doesn't comply with the best interest duty, when assessed by looking at the files, of around nine in 10 pieces of advice."Kell qualified that "for the majority of those files there is no necessary indication that that immediately signals consumer detriment. There's a smaller percentage where we think consumer detriment is apparent. "What we have found across large and small licensees in our reviews of recent times is that the industry as a whole is struggling to get to grips with how best to implement the key best interests duty requirements, including how they are documented in the advice files. "Licensees need to improve their record keeping and their documentation."