Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

I suspect that the member for Lyne did not negotiate in good faith. I expect that he simply, as he does on so many things, negotiated as effectively a Labor Independent, because we do not know what the purpose is of this ASIC exemption from the application of the opt-in requirement. The minister has insisted throughout the FoFA process that opt-in is a critical requirement. What has occurred to make the minister change his mind to provide an exemption? What is the information? What is the evidence? Where is the convincing argument? The financial planners already have a code of practice. What about the others? Are they going to satisfy an ASIC test? How is ASIC going to—

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