House debates Questions without Notice
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
Josh Frydenberg Kooyong, Liberal Party, Treasurer
2:17 pm
There are 76 recommendations. We're taking action on all 76. Currently we have exposure draft legislation to end grandfathered commissions for financial advisers. After that consultation it will make its way to the parliament and we'd expect those opposite to support our legislation. But the point remains that, after the royal commission was handed to us, we took four days to respond; those opposite took 22 days. We have already legislated a significant number of recommendations from the Hayne royal commission. Others are in the pipeline. We're taking great care to do this properly, to get this right, so Australian consumers get a better deal.
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