Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

That was a valiant attempt by the senator to be at least relevant in terms of the words used if not the substance. There are a range of powers and other measures in the legislation which are about dealing with the prevention of fraud and criminal behaviour. I can go through those in detail. We referenced some of the penalties last night. There are also investigation powers, anti-money-laundering provisions, identity checks, powers to prevent suspicious or fraudulent transfers of units, and the regulation of financial services involving carbon units, which is consistent with the regime for shares and other financial products. These measures build on overseas experiences and should give confidence to investors and market participants. The compliance enforcement provisions are analogous to those which have been put in place for ASIC, the ACCC, the Renewable Energy Regulator, the Greenhouse and Energy Data Officer and other comparable officers.