Helen Coonan (NSW, Liberal Party, Minister for Communications, Information Technology and the Arts) Share this | Hansard source

I am not quite sure whether that is a statement from Senator Wong or a question. But ASIC, for example, has announced that it will require reporting on a monthly basis on how clients’ complaints are dealt with by financial advisers and, if serious breaches of the law are found to have occurred, ASIC certainly has the power to impose penalties. If there is any additional information that the minister wishes to add to my answer, I will draw it to his attention.