Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Hansard source

Madam Speaker, none of us want to see vulnerable people ripped off by unscrupulous advisers. None of us want to see that. Every single member of this parliament wants to see a good and effective system of regulation in place; we all want to see an effective system of safeguards in place. It is a question of getting the balance right. And I say, of the changes that the government has put in place, that they do not withdraw the best interests tests, they do not introduce commissions, but they seek to ensure that people of modest incomes have access to the best professional advice—that is what they seek to do. And I am confident that the kinds of activities that the shadow minister referred to will be just as much prescribed by the system that we have put in as they were under the system put in by members opposite.

See this speech in context