Senate debates

Monday, 10 February 2020

Bills

Treasury Laws Amendment (2018 Measures No. 2) Bill 2019; In Committee

9:32 pm

Photo of Peter Whish-WilsonPeter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

That's great to hear, Minister, but you said earlier that you didn't think they'd be going through advisers, that they'd be going through friends and family when they establish their products. I'm sure they would want to get some relationships going with good advisers so that they could find clients to test their products. If I were a banker or an insurance company that wanted to look at add-on products that might innovate in these areas I'd probably use my existing client base, and maybe even my financial advisers' client bases. My question is: are there actually any examples of this working? Are we totally in the infancy of this market? You said there are some in the sandbox already. Perhaps you could take it on notice to give us some examples of those companies which are already in the sandbox and what kinds of advisers they've used to find the crash test dummies for their products?

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