Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

The government is making judgements about what is in the public interest, and of course we are taking action to implement our election commitments, consistent with our regulation-making powers in the Corporations Act. As I stated in my media release on 20 June 2014, in order to provide clarity and certainty for both the financial advice industry and investors seeking financial advice, we will give effect to the policy commitments we made before the last election through regulation wherever that is legally possible. These regulations are to take effect on 1 July 2014. Judgements in relation to the matters Senator Madigan raises are of course a matter for the Senate, and I would not be so presumptuous as to pre-empt whatever conclusions the Senate might reach on reflection and having considered all of the relevant information.