Senate debates

Wednesday, 18 June 2014

Questions without Notice

Financial Services

2:21 pm

Photo of Peter Whish-WilsonPeter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

My question is to Senator Cormann in his capacity as Acting Assistant Treasurer. The senator may be aware that hundreds of Australians are facing the loss of their homes—indeed, foreclosure today by the ANZ Bank, because they are victims of unscrupulous financial advisers, who leveraged them into risky and complex management investment schemes, such as Timbercorp. Did you meet with any of the victims of the Timbercorp collapse in Parliament House yesterday? And does the Liberal government, the architect of management investment schemes in Australia, accept any responsibility for the catastrophic regulatory and policy failure now surrounding management investment schemes in Australia?

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