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ANZ’s entry into Financial Advice mess shows Royal Commission still needed

The Greens spokesperson for Consumer Affairs, Senator Peter Whish-Wilson, says that revelations that ANZ charged 8,500 clients for a service they never received shows that more needs to be done to root out problems in the sector.

Senator Whish-Wilson said, “It has only taken a few Senate inquiry hearings to pressure the banks to reveal systemic problems within the financial advice sector.

“Imagine what might be exposed if a Royal Commission was established and given powers to investigate the sector properly.

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Murray to Government on FoFA: Wrong way, Go back.

Greens spokesperson for Consumer Affairs, Competition Policy and Small Business, Senator Peter Whish-Wilson provides the following comments on release of the Murray Financial System Inquiry final recommendations today.

Senator Whish-Wilson said, “The vast number of recommendations contained within the Murray Inquiry to provide better protections to consumers, justifies the strong stance the Greens have taken on the Future of Financial Advice laws (FoFA).

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Timbercorp and the MIS Senate Inquiry: this is just the beginning

The Greens spokesperson for Consumer Affairs, Competition Policy and Small Business, Senator Peter Whish-Wilson provides the following comments about today’s explosive hearing into Managed Investment Schemes (MIS) held at Melbourne Town Hall.

Senator Whish-Wilson said, “Never before have I seen so many people turn up and watch a Senate Inquiry public hearing. Today alone justifies the efforts by the Greens to instigate this inquiry.

“I want to thank all the victims of the Timbercorp collapse who braved the Inquiry to give their heart-wrenching evidence.

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The Liberal-Palmer Coalition delivers for the top end of town at the expense of small business

Greens spokesperson for Small Business, Senator Peter Whish-Wilson, says that the mining tax repeal delivers a massive blow to the small business sector.

Senator Whish-Wilson said, “This massive win for the mining companies comes at the expense of not just worker’s superannuation, but is also a body-blow to small business.

“The mining tax repeal has made the two million small businesses in Australia losers, just to benefit a handful of mining giants.

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Why is the government bringing on their FOFA legislation before the Financial System Inquiry reports?

Greens spokesperson for Consumer Affairs, Competition Policy and Small Business, Senator Peter Whish-Wilson provides the following comments on the Government reintroducing their Corporations Amendment (Streamlining of Future of Financial Advice) Bill 2014 into the House of Representatives today.

Senator Whish-Wilson said, “Today the Government has brought on FoFA legislation that is aimed at locking into law the dodgy deal that they have done with Clive Palmer to back the big banks over consumers.

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