Senate debates

Tuesday, 8 July 2014

Questions without Notice

Future of Financial Advice

2:00 pm

Photo of Sam DastyariSam Dastyari (NSW, Australian Labor Party) Share this | Hansard source

My question is to the still Acting Assistant Treasurer, Senator Cormann. Is the Acting Assistant Treasurer aware of the statements made at the most recent estimates by ASIC Senior Executive Leader Greg Kirk that an ASIC assessment of financial advice found, 'about 20 per cent of the advice was of very poor quality or legally inappropriate'? Minister, won't winding back the future of financial advice reforms leave most small investors vulnerable to financial advice that is not in the best interest of consumers?

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