Tony Abbott: don’t strip away our protections from big banks and dodgy financial planners.
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Tony Abbott: don’t strip away our protections from big banks and dodgy financial planners.

Tony Abbott is about to roll back laws that stop big banks and financial planners from ripping you off – and we have a chance to stop him.

After high profile collapses of companies like Storm Financial, the last government passed landmark laws protecting ordinary people from dodgy operators. Under the new Future of Financial Advice (FOFA) laws financial planners are now required to act “in the best interests” of their clients.

Tony Abbott wants to rip the guts out of these protections.

The big banks would love to see him succeed. It will see a return to the bad old days of cowboy salesman taking folks for a ride while pulling in chunks of their hard-earned savings through fees and secret commissions.

Tony Abbott: don’t strip away our protections from big banks and dodgy financial planners.

Sensible heads in the financial sector are fighting back. Financial Journalist Alan Kohler recently said:

“There is something very inconsistent about holding a Royal Commission into union corruption while legislating to allow the return of corruption in financial advice.”

And Ross Gittins from Fairfax proclaimed:

“If ever there was an area where people need protections by consumer laws from being exploited, this is it.”

We have the opportunity to make enough noise to shame Tony Abbott into dropping his attacks on these important consumer protections.

Tony Abbott has a clear choice: he can act in the best interests of big banks and dodgy financial planners or the in best interests of everyday Australians. Let’s make sure he knows who he should stand with.

The FOFA protections only came about after thousands of Australians became tragic victims of financial cowboys. If Tony Abbott removes them more people will fall prey to dodgy operators, guaranteed.

Sign on to stop Tony Abbott from stripping away our protections from big banks and dodgy financial planners.  

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Showing 7476 reactions

  • test actuonline
    signed 2015-02-25 18:18:44 +1100
    AHRC Human Rights Discrimination Complaint of Liberal Party – PM and Cabinet – https://www.scribd.com/LiberalDiscriminate
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    signed 2014-07-15 18:11:25 +1000
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    signed 2014-07-04 15:48:38 +1000
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    signed 2014-07-02 23:42:37 +1000
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    signed 2014-07-02 19:09:36 +1000
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    signed 2014-07-01 23:19:17 +1000
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    signed 2014-07-01 22:37:16 +1000
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    signed 2014-07-01 21:33:41 +1000
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    signed 2014-07-01 21:08:37 +1000
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    signed 2014-07-01 20:25:30 +1000
    Signed
  • test actuonline
    signed 2014-07-01 19:45:01 +1000
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    signed 2014-07-01 18:17:58 +1000
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    signed 2014-07-01 17:09:19 +1000
  • test actuonline
    posted about this on Facebook 2014-07-01 10:39:00 +1000
    Tony Abbott: don’t strip away our protections from big banks and dodgy financial planners.
  • test actuonline
    signed 2014-07-01 10:38:30 +1000
    I suppose you think you had a mandate for this con job too Abbott ,you dog !!
  • test actuonline
    signed 2014-07-01 10:33:10 +1000
  • test actuonline
    posted about this on Facebook 2014-07-01 08:48:59 +1000
    Tony Abbott: don’t strip away our protections from big banks and dodgy financial planners.
  • test actuonline
    signed 2014-07-01 08:38:51 +1000
  • test actuonline
    signed 2014-07-01 07:52:30 +1000
    Our super and pension funds have halved. We are now on the pension and being a burden to the taxpayer. We were in Macquarie Wealth. future generations need the legislation as it stands or Financial Planner and Politicians will be the only that will not be on the Pension
  • test actuonline
    signed 2014-07-01 06:24:18 +1000
    There will always be a few bad apples. Labour and Unions fight for the good of the people. Banks and the Liberals fight for the good of their shareholders and the monied people.
  • test actuonline
    signed 2014-07-01 04:19:12 +1000
  • test actuonline
    signed 2014-07-01 01:29:38 +1000
    For sheer hypocrisy, this takes some beating
  • test actuonline
    signed 2014-07-01 01:13:26 +1000
  • test actuonline
    posted about this on Facebook 2014-06-30 23:17:40 +1000
    Tony Abbott: don’t strip away our protections from big banks and dodgy financial planners.
  • test actuonline
    signed 2014-06-30 23:16:11 +1000
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    signed 2014-06-30 22:39:18 +1000
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    signed 2014-06-30 22:28:14 +1000
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    signed 2014-06-30 20:34:39 +1000
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    signed 2014-06-30 20:23:04 +1000
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    signed 2014-06-30 20:19:15 +1000
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