The battle for Axa Asia Pacific Holdings’ Australasian assets, and with it the future shape of the local financial services industry, has entered the domain of the Australian Competition and Consumer Commission.

The commission has published a “statement of issues” on bids for the assets by AMP and National Australia Bank. Further information is being sought on “certain competition issues”.

Submissions will be accepted up to February 26, and the commission intends to make final decisions on both bids by March 17.