Submission to: Attorney-General’s Department Joint submission from the financial counselling sector in response to three proposed changes to the bankruptcy laws. We support a reduction of the bankruptcy period from three years to one year (subject to safeguards), argue strongly against changing the current eligibility criteria for debt agreements and support proposals to rein in untrustworthy advisors.
Submission to: Treasury Joint consumer group submission (led by CHOICE) on the Financial Accountability Regime Bill 2021. As drafted, the law will not work to hold finance executives to account. The Bill needs to be strengthened to: expand the scope to senior managers, reinstate civil penalties for breaches (which was the Government’s original intention), bolster the deferred remuneration obligations so that all variable rem could be clawed back and impose an obligation on executives and senior managers to treat customers fairly.