Senate debates

Wednesday, 14 November 2018

Regulations and Determinations

ASIC Corporations (Banking Code of Practice) Instrument 2018/700; Disallowance

6:00 pm

Photo of Matthew CanavanMatthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

The government does not support this motion. The government supports action by the financial services industry to provide consumers with more rights to hold institutions to account. The Australian Securities and Investments Commission's support for this code not only is an important part of rebuilding the community's trust in the financial sector but also puts pressure on other sectors to raise their standards in how they deal with consumers.

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