Senate debates

Thursday, 6 February 2020

Bills

Financial Sector Reform (Hayne Royal Commission Response — Protecting Consumers (2019 Measures)) Bill 2019; Second Reading

9:57 am

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

who's still alive, I understand!—in question time back in 2015 about some of the misconduct that we'd seen, and he very famously replied to me that it was just a few bad apples, which of course we'd all heard before, and how dare I insinuate that people who worked in banks were somehow criminal. That wasn't what I was insinuating, but I was insinuating that there are structural conflicts of interest within the banks and within these business models that over time have led to a culture and a cultural problem of profits before people. Of course we've seen the wash-up of that. Anyone who attended the Senate inquiries and heard from the hundreds of victims who had lost their homes, livelihoods and even their lives because of the way they'd been treated by financial advisers, the banks and other financial services companies would want to do something about it. I'll be watching with interest to see other legislation that comes before this place, and the Greens will be supporting this bill.

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