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

I would just say this is an approach that has been used by governments of both persuasions. Indeed, when I was sitting on the other side of the chamber, that is exactly the way the previous government pursued the implementation of changes to our financial advice laws. So this is a well established principle. When you have a regulatory change of this nature, regulatory agencies like ASIC and the ACCC obviously implement these changes sensibly in the early period of implementation.