Last night, Kevin Rudd yet again misled the Australian public.
Speaking in the Parliament last night, Mr Rudd outlined Labor’s policy to introduce ‘…a simple, standard disclosure form for financial services products’.
On the 26 March this year, the Government released draft regulations that will enable financial service providers to simplify the documentation they provide to Mum and Dad investors. This will be done in a number of ways, including by incorporating information by reference to other documents.
“Mr Rudd has failed to get across the Government’s policy that has been on show for months. I have already announced significant changes to the Financial Services Regime, which are designed to make it easier for Mum and Dad investors to make informed investment decisions,” said Mr Pearce.
“Clearly, Mr Rudd has not done his homework in developing financial services policy, much like his fumbling attempts to develop credible education and industrial relations policies,” said Mr Pearce.
11 May 2007
MELBOURNE
Contact: Conor O’Brien (03) 9887 3890 or 0402 970 515