Jenny McAllister (NSW, Australian Labor Party, Shadow Cabinet Secretary) Share this | Hansard source

You'll have observed that in many of the submissions made on the bill and in many of the contributions in the chamber, there is an understandable anxiety about any proposition that loosens regulatory requirements. It's not as though we've had a particularly good experience with the finance sector in recent years, and the capacity for exploitation has become really obvious. And that's not just in the banking sector; that's also in insurance, in non-bank lending and in a range of other product categories. I assume that, in addition to advice from ASIC, you've received advice from Treasury. What advice have you received about the risks that are attendant upon a sandbox approach? How do you seek to have those managed?