It was a single recommendation: pass both bills. But in the dying days before the federal election, it was ignored, leaving victims of financial misconduct left high and dry on the political scrapheap in another week of political mudslinging and point scoring.
The sad reality is the government never had a strong appetite to launch such a scheme. If it had, the scheme would have been introduced years ago. “Australians have been waiting … years … for the implementation of the compensation scheme,” he wrote. “In that period many Australians have suffered significant losses due to misleading, deceptive or otherwise unacceptable conduct by financial services firms.”
It was resuscitated in November 2017 in a last-ditch effort by the government to try and stop the Nationals from calling a commission of inquiry into the banks.
adele_ferguson The twitter response to this tweet demonstrate auspoI in particular the LNP have successfully managed the financial crime from the focus of MSM E.G. there has no reporting on the Treasury whitewash AFCA_org_au review, no senate inquiry, no critical questions Woe is us
adele_ferguson LIBS are the masters of broken promises
adele_ferguson Thank you for the integrity Kenneth Hayne, Banking Royal Commissioner who delivered his report in Feb 2019. Liberal Treasurer JoshFrydenberg and the LNP government promised to adopt ALL its recommendations. Nope Hayne said when asked to shake hands and smile for the camera.
adele_ferguson Frydenberg is such a immature person. How he ever get to the dizzy heights of Treasurer beggars belief. But then others in the LNP Government are even much worse. Schoolyard bulling tactics in Question time .Is what they appeal to. How did people like that ever get elected?