Senate debates

Monday, 23 June 2014

Questions without Notice

Future of Financial Advice

2:50 pm

Photo of Mehmet TillemMehmet Tillem (Victoria, Australian Labor Party) Share this | Hansard source

Mr President, I wish to ask a supplementary question. Minister, is it not true that removing the opt-in provisions of FoFA simply means indefinite ongoing fees that act like trailing commissions? Does the minister agree with Industry Super, who estimate that under this provision consumers could lose $240 million?

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