The confidence and trust in the financial services industry has taken a huge hit over an ongoing range of scandals and high profile consumer rip offs. This has led to unprecedented level of examination into what is happening across our industry.

Both the House of Representatives and the Senate are undertaking numerous inquiries into the sector; financial regulators and ombudsman are undertaking review's, the Australian Bankers Association has launched a number of wide ranging reviews in an effort to head of the growing calls for a Royal Commission into the industry.

The FSU is engaging in all these forums to ensure the voices of finance workers are heard throughout the process of restoring trust and confidence in the finance industry.

Below are just some of the reviews and inquiries being undertaken as of February 2017

  1. The House of Representatives Economic Committee in the Big 4 Banks
  2. Senate Inquiry into consumer protection in the banking, insurance and financial services sector
  3. The Senate Finance Committee Inquiry into life insurance
  4. The Small Business Ombudsman Inquiry into Business Banking
  5. ASIC review of remuneration in Banking and Insurance
  6. Government commissioned Ramsay Review into financial services consumer complaints tribunals
  7. Senate Inquiry into Whistleblower protections in the corporate, public and not-for-profit sectors
  8. ABA reviews and independent inquiries

 

 

Below is a timetable of upcoming activity 

Sedgewick Submission due

10 February 2017

Senate Inquiry into Whistle Blower Protection Submission Due

10 February

Bad Apples Draft Protocol Due

14 February (tentative)

Sedgwick Issues Paper Consultation Meeting

15 February 2017

Sedgewick SAP

22 February 2017

Senate Inquiry into Life Insurance

22 February

Bad Apples Draft Protocol Feedback Due

23 February (tentative)

House of Reps Economic Hearing Committee

3 March 2017

House of Reps Economic Hearing Committee

7 March 2017

Submission due Senate Inquiry into consumer protection in the banking, insurance and financial services

7 March 2017

House of Reps Economic Hearing Committee

8 March 2017

Submissions to ABA McPhee report Pt 4

24 March 2017

Mcphee Report 4 due

21 April 2017

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