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This is the guy who was stridently opposed to the Royal Commission and is now belatedly trying to cover his past opposition.

If he gets this new regime through his cabinet, then he will have almost redeemed himself.

His next task will be to curtail the overly well paid lawyers from using every trick to circumvent the work of the two regulators in applying his new penalties. These are the lawyers who let the financial advisors to cop the hits whenever their clients get caught playing their games upon investors and clients of financial advisors.