Sam Dastyari (NSW, Australian Labor Party) Share this | Link to this | Hansard source

I move:

That the following matter be referred to the Economics References Committee for inquiry and report by the first sitting day in July 2015:

Implications of financial advice reforms, with particular reference to:

(a) the current level of consumer protections;

(b) the role of, and oversight by, regulatory agencies in preventing the provision of unethical and misleading financial advice;

(c) whether existing mechanisms are appropriate in any compensation process relating to unethical or misleading financial advice and instances where these mechanisms may have failed;

(d) mechanisms, including a centralised register, that would ensure financial planners found to have breached any law or professional standards in their employment are transparent, for both the sector and consumers;

(e) how financial services providers and companies have responded to misconduct in the industry;

(f) other regulatory or legislative reforms that would prevent misconduct; and

(g) any related matters.

Question agreed to.