For anyone who has been affected by unscrupulous financial advisors, dodgy financial products or highway robbery in the form of credit card charges, the measures announced by the Federal Government to clean up the country’s financial system (“to best meet our evolving needs and to support Australia’s economic growth”) will be especially welcome.

The Federal Government finally released its response to the Financial Systems Inquiry’s Final Report aimed at cleaning up and improving our financial system . The FSI’s Final Report had actually been delivered to the government on last year so  peak policy and advocacy body for older people, COTA Australia, was quite entitled to describe the response as ‘long awaited’.

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