The Australian federal government is set to examine the power “mega-funds” like U.S. giants BlackRock, Vanguard, and local super funds hold over the country’s financial sector, with the House of Representatives Standing Committee on Economics to investigate the issue of “common ownership” and whether it has led to possible collusion between firms. Tim Wilson, federal member of Parliament and chair of the Committee, said the Australian stock exchange was already subject to increasingly concentrated ownership by a small number of mega-funds. “We don’t want a stock exchange where a hand full of ‘mega funds’ make all the decisions, and ordinary investors are locked out, and higher costs are paid by Australians,” he said in a statement. “Common ownership flow-on risks are higher prices and collusion, corporates imposing public policy agendas while bypassing democracy, and disempowering ordinary investors,” he added. In February, Carole Comerton-Forde, professor of finance at the University of New South Wales …