Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I feel for this lady and I feel for any victim of bad financial advice. But guess what? You can impose as much red tape as you like. That is not going to prevent crooks from being crooks. We have to ensure that we have a robust but efficient regulatory system in place. We have to ensure that we have a system where people can have access to high-quality financial advice they can trust and which is affordable. We have to take action whenever things happen that should not happen. We have to make sure that we fix problems as they emerge. Even the toughest bit of red tape is not going to stop somebody bad from doing something bad. That is the big lie that the Labor Party is propagating. They are trying to use the cover of these sorts of events to essentially— (Time expired)