Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

First, as the senator would know, the AFP is an independent body and is not directed by the government in matters such as the one he has referred to. I would also make this point: the RBA has taken steps over the past few years to tighten controls and strengthen governance to avoid any recurrence of alleged behaviour. The bank has publicly announced, for example, that the use of sales agents has ceased and procedures at both companies have been overhauled. I am also advised that the RBA is fully cooperating with the Commonwealth Director of Public Prosecutions as part of these proceedings.

The Treasurer has previously said—and I would endorse his comments—that obviously these are serious matters which do deserve to be thoroughly investigated. That is what the Reserve Bank has been doing, and the accountability mechanism through the committee is entirely the appropriate course of action.