Joe Hockey (North Sydney, Liberal Party, Manager of Opposition Business in the House) Share this | Hansard source

In an article written by Kelly Burke, the Consumer Affairs Reporter of the Sydney Morning Herald, on 31 May 2008 titled ‘Questions over $200,000 claim paid to Coonan’, there is a clear suggestion that, somehow, Senator Coonan had approached me in 2001 as Minister for Financial Services and Regulation to change the law to accommodate her personal financial situation. This is completely false. In addition, the article says that the matters ‘had been handled by the then minister for financial services, Joe Hockey’. It goes on to say that I have not ‘explained why his government removed APRA scrutiny from home building insurance in 2002’. Home building insurance was never the responsibility of APRA. APRA was responsible for the prudential supervision of financial institutions, including insurance companies, and was never responsible for product prudential supervision. That is the responsibility of ASIC. The article is fundamentally flawed and I expect an apology from the Sydney Morning Herald.

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