Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Hansard source

The senator interjects, 'What action?' We have legislation in the parliament right now to remove automatic exit fees from superannuation accounts, to protect the interests of Australians saving for their retirement. We're looking forward to your support for that legislation, that unamended legislation.

We also have legislation to increase penalties for white-collar crime, which we can deal with this week. We also have legislation to increase the powers of APRA. We've taken a whole series of measures already in anticipation of the findings of the banking royal commission—among other things, the Banking Executive Accountability Regime. We've provided additional resources to ASIC and to APRA—you name it. We've established the Australian Financial Complaints Authority. The Labor Party are out there pushing for additional sitting weeks but are all the while hoping that it doesn't get up.