The Greens have exacted revenge on Labor for reneging on a deal to fine law-breaking bankers by joining a push to overturn controversial super reforms.
to fine law-breaking bankers by joining a Senate push to overturn the government’s controversial superannuation disclosure reforms.
In a frank admission, Mr Jones said if he had his time again, he would have gone about the process differently.“I would have consulted, I would have done it all as a job lot. Can’t take my time back but we have fixed those issues,” he told“If this disallowance gets up in the Senate, so be it. It won’t add one skerrick of additional transparency, the big winner will be Australia Post because a lot more mail will be sent around the country.
However, the minor party changed its tune this week, sparked in part by Financial Services Minister Stephen Jones backing out of a last-minute deal with the Greens in November to introduce million-dollar fines for law-breaking financial services executives in new laws bolstering standards in the financial services sector.
“Firstly, it is members’ money. Secondly, performance of those funds matters. Thirdly, there should be transparency and integrity in how those funds report on matters. These principles are the bedrock of what we believe delivers the best possible super system.
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