Jane Hume (Victoria, Liberal Party, Assistant Minister for Superannuation, Financial Services and Financial Technology) Share this | Hansard source

First I would like to thank those senators who have contributed to this debate. The government is committed to implementing a comprehensive response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, which is set out in its Financial Services Royal Commission Implementation Roadmap. The Financial Sector Reform (Hayne Royal Commission Response—Stronger Regulators (2019 Measures)) Bill 2019 is an important step in delivering the response by implementing the recommendations of the ASIC Enforcement Review Taskforce to ensure that regulators have the resources and powers that they need to strengthen their approach to enforcement and supervision. These reforms build on the substantial steps already undertaken by the government to protect Australian consumers and deliver on its commitment to implement the recommendations of the royal commission. I commend this bill to the Senate.

Question agreed to.

Bill read a second time.