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Pressure of impending Bank Royal Commission continues to reap dividends for public

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Greens' comments on new standards for financial advisers

The Greens spokesperson for Treasury and Consumer Affairs, Senator Peter Whish-Wilson provides the following comments on the new standards for financial advisers.

Senator Whish-Wilson said, “The Greens have always advocated for a mandatory code of conduct for this industry, including a US-style system for advisor examinations, namely the Series 7 and 63 exams. Evidence suggests voluntary codes just don't cut the mustard.

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Greens call on Government to ditch FoFA wind back in wake of ASIC Inquiry findings

Greens spokesperson for Competition Policy, Consumer Affairs and Small Business calls upon the Government to abandon their Future of Financial Advice(FoFA) law wind-back, in the face of damning criticism of the large financial services companies and the regulator from the ASIC Inquiry report.

Senator Whish-Wilson says, “The ASIC Inquiry showed that sections of the financial services industry, especially the large banks, need to dramatically improve their standards and culture, and that we have a regulator without teeth or resources.

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Government to weaken consumer protections in FoFA via regulation backdoor

Greens Spokesperson for Consumer Affairs, Competition Policy and Small Business, Senator Peter Whish-Wilson responds to the Government’s plans to water down consumer protections in the Future of Financial Advice (FoFA) laws via the backdoor of regulation, instead of subjecting the changes to full Parliamentary scrutiny.

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