Consumer protection in the banking, insurance and financial sector

On 29 November 2016, the Senate referred an inquiry into the regulatory framework for the protection of consumers, including small businesses, in the banking, insurance and financial services sector (including Managed Investment Schemes) to the Senate Economics References Committee for inquiry and report by the last sitting day of the autumn sittings of 2018.

On 14 February 2018, the Senate granted an extension of time to report by 26 June 2018.

Submissions closed on 7 March 2017. 

On 25 June 2018, the Senate granted a further extension of time to report until 15 November 2018

Receipt and Publication of Submissions

Submitters should note that the committee has received a large number of submissions and that all submissions must be accepted and approved for publication by the committee prior to being uploaded online. The committee is working through the submissions received and submitters will be notified by email as to the outcome of the committee’s consideration of their submission.

Please note that all documents sent to the inquiry become committee documents on receipt, and are only made public following a decision of the committee. The committee may decide not to accept or not to publish material not relevant to the inquiry’s terms of reference or which reflects adversely on others. If you have any questions about your submission please contact the committee secretariat.

Individual disputes

Submitters should also note that the committee is not in a position to resolve individual disputes or settle complaints about financial services provided.

Adverse comment

Because of the nature of this inquiry, allegations of misconduct related to the provision of financial services or related matters may have been made against certain named individuals or organisations. The committee may decide to publish material that contains adverse comments.

Financial Services Royal Commission

If you gave evidence to the Senate Economics Committee’s inquiry into consumer protection, and wish to give evidence to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, please refer to the information here.

Committee Secretariat contact:

Additional Committee Support
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3585
Fax: +61 2 6277 5794