Senate debates

Thursday, 20 March 2014

Questions without Notice

Financial Services

2:22 pm

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

Considering that some financial advisers who recommended investments in collapsed forestry MI schemes received commissions of up to 10 per cent on each investment and that the structure of forestry MISs has been described as encouraging a type of Ponzi scheme where this year's fees are being used to pay last year's expenses, how will the government ensure that the repeal of the FoFA legislation does not revive the Liberal-National Party's systemic failed model of managed investment schemes in this country and especially in Tasmania's forestry and agricultural sectors?


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