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   45   MESSAGE FROM THE SENATE—FINANCIAL SERVICES INDUSTRY

Message No. 80, 1 December 2016, from the Senate was reported informing the House that the Senate had agreed to the following resolution:

That the Senate—

(a)    notes that:

(i)    confidence and trust in the financial services industry has been shaken by ongoing revelations of scandals, which have resulted in tens of thousands of Australians being ripped off, including:

( a )   retirees who have had their retirement savings gutted;

( b)   families who have been rorted out of hundreds of thousands of dollars;

(c)   small business owners who have lost everything; and

(d)   life insurance policy holders who have been denied justice;

(ii)   it is clear from the breadth and scope of the allegations that the problems in this industry go beyond any one bank or type of financial institution;

(iii)  the Australian Labor Party, the Australian Greens, crossbench, Liberal and Nationals parliamentarians have supported a thorough investigation of the culture and practices within the financial services industry through a Royal Commission, which is the only forum with the coercive powers and broad jurisdiction necessary to properly perform this investigation;

(iv)  Australia has one of the strongest banking systems in the world, but Australians must have confidence in their banks and financial institutions, making it necessary to sweep away doubt and uncover and deal with unethical behaviour that compromises that confidence; and

(v)   the case for a Royal Commission into misconduct in the banking and financial services industry has only become stronger over time; and

(b)    the Senate calls on the Government to request His Excellency the Governor-General of the Commonwealth of Australia issue Letters Patent to establish a Royal Commission to inquire into misconduct in the banking and financial services industry, including their agents and managed investment schemes.

The Senate requests the concurrence of the House in this resolution.

Mr Pyne (Leader of the House) moved—That the message be considered at the next sitting.

Mr Burke moved, as an amendment—That all words after “That” be omitted with a view to substituting the following words:

“the message be taken into consideration immediately.”

Closure

Mr Pyne moved—That the question be now put.

Question—That the question be now put—put and passed.

And the question—That the amendment be agreed to—being accordingly put—

The House divided (the Speaker, Mr A. D. H. Smith, in the Chair)—

AYES, 74

Mr Albanese

Mr Dick

Dr M. J. Kelly

Mr Perrett*

Dr Aly

Mr Dreyfus

Mr Keogh

Ms Plibersek

Mr Bandt

Mrs Elliot

Mr Khalil

Ms Rishworth

Ms Bird

Ms Ellis

Ms C. F. King

Ms Rowland

Mr Bowen

Mr Feeney

Ms M. M. H. King

Ms Ryan*

Ms Brodtmann

Mr Fitzgibbon

Ms Lamb

Ms Sharkie

Mr Burke

Dr Freelander

Dr Leigh

Mr Shorten

Ms Burney

Mr Georganas

Ms McBride

Mr Snowdon

Mr M. C. Butler

Mr Giles

Ms McGowan

Ms Stanley

Ms T. M. Butler

Mr Gosling

Ms Macklin

Mr Swan

Mr Byrne

Mr Hammond

Mr Marles

Ms Swanson

Dr Chalmers

Mr Hart

Mr B. K. Mitchell

Ms Templeman

Mr Champion

Mr Hayes

Mr R. G. Mitchell

Mr Thistlethwaite

Ms L. M. Chesters

Mr Hill

Mr Neumann

Ms Vamvakinou

Mr Clare

Ms Husar

Mr O’Connor

Mr Watts

Ms Claydon

Mr Husic

Ms O’Neil

Mr Wilkie

Ms Collins

Mr Jones

Ms O’Toole

Mr J. H. Wilson

Mr Conroy

Mr Katter

Ms Owens

Mr Zappia

Mr Danby

Ms Keay

 

NOES, 75

Mr Abbott

Mr Falinski

Ms M. L. Landry

Mr Pyne

Mr Alexander

Mr Fletcher

Mr C. A. S. Laundy

Mr Ramsey*

Mrs K. L. Andrews

Ms Flint

Mr Leeser

Mr Robert

Mr K. J. Andrews

Mr Frydenberg

Ms Ley

Mrs Sudmalis

Ms Banks

Mr Gee

Mr Littleproud

Mr Sukkar

Ms Bishop

Dr Gillespie

Mr McCormack

Mr Taylor

Mr Broad

Mr Goodenough

Dr McVeigh

Mr Tehan

Mr Broadbent

Mr Hartsuyker

Ms Marino

Mr Tudge

Mr Buchholz

Mr Hastie

Mr Morrison

Mr Turnbull

Mr D. J. Chester

Mr Hawke

Mr Morton

Mr van Manen

Mr Christensen*

Ms Henderson

Mr E. L. O’Brien

Mr Vasta

Mr Ciobo

Mr Hogan

Mr L. S. O’Brien

Mr Wallace

Mr Coleman

Mr Howarth

Mr O’Dowd

Mrs Wicks

Mr Coulton

Mr Hunt

Ms O’Dwyer

Mr R. J. Wilson

Mr Crewther

Mr Irons

Mr Pasin

Mr T. R. Wilson

Mr Drum

Mr Joyce

Mr Pitt

Mr Wood

Mr Dutton

Mr Keenan

Mr Porter

Mr Wyatt

Mr Entsch

Mr C. Kelly

Mrs Prentice

Mr Zimmerman

Mr Evans

Mr Laming

Ms Price

 

* Tellers

And so it was negatived.

Closure

Mr Pyne moved—That the question be now put.

Question—That the question be now put—put.

The House divided (the Speaker, Mr A. D. H. Smith, in the Chair)—

AYES, 75

Mr Abbott

Mr Falinski

Ms M. L. Landry

Mr Pyne

Mr Alexander

Mr Fletcher

Mr C. A. S. Laundy

Mr Ramsey*

Mrs K. L. Andrews

Ms Flint

Mr Leeser

Mr Robert

Mr K. J. Andrews

Mr Frydenberg

Ms Ley

Mrs Sudmalis

Ms Banks

Mr Gee

Mr Littleproud

Mr Sukkar

Ms Bishop

Dr Gillespie

Mr McCormack

Mr Taylor

Mr Broad

Mr Goodenough

Dr McVeigh

Mr Tehan

Mr Broadbent

Mr Hartsuyker

Ms Marino

Mr Tudge

Mr Buchholz

Mr Hastie

Mr Morrison

Mr Turnbull

Mr D. J. Chester

Mr Hawke

Mr Morton

Mr van Manen

Mr Christensen*

Ms Henderson

Mr E. L. O’Brien

Mr Vasta

Mr Ciobo

Mr Hogan

Mr L. S. O’Brien

Mr Wallace

Mr Coleman

Mr Howarth

Mr O’Dowd

Mrs Wicks

Mr Coulton

Mr Hunt

Ms O’Dwyer

Mr R. J. Wilson

Mr Crewther

Mr Irons

Mr Pasin

Mr T. R. Wilson

Mr Drum

Mr Joyce

Mr Pitt

Mr Wood

Mr Dutton

Mr Keenan

Mr Porter

Mr Wyatt

Mr Entsch

Mr C. Kelly

Mrs Prentice

Mr Zimmerman

Mr Evans

Mr Laming

Ms Price

 

NOES, 74

Mr Albanese

Mr Dick

Dr M. J. Kelly

Mr Perrett*

Dr Aly

Mr Dreyfus

Mr Keogh

Ms Plibersek

Mr Bandt

Mrs Elliot

Mr Khalil

Ms Rishworth

Ms Bird

Ms Ellis

Ms C. F. King

Ms Rowland

Mr Bowen

Mr Feeney

Ms M. M. H. King

Ms Ryan*

Ms Brodtmann

Mr Fitzgibbon

Ms Lamb

Ms Sharkie

Mr Burke

Dr Freelander

Dr Leigh

Mr Shorten

Ms Burney

Mr Georganas

Ms McBride

Mr Snowdon

Mr M. C. Butler

Mr Giles

Ms McGowan

Ms Stanley

Ms T. M. Butler

Mr Gosling

Ms Macklin

Mr Swan

Mr Byrne

Mr Hammond

Mr Marles

Ms Swanson

Dr Chalmers

Mr Hart

Mr B. K. Mitchell

Ms Templeman

Mr Champion

Mr Hayes

Mr R. G. Mitchell

Mr Thistlethwaite

Ms L. M. Chesters

Mr Hill

Mr Neumann

Ms Vamvakinou

Mr Clare

Ms Husar

Mr O’Connor

Mr Watts

Ms Claydon

Mr Husic

Ms O’Neil

Mr Wilkie

Ms Collins

Mr Jones

Ms O’Toole

Mr J. H. Wilson

Mr Conroy

Mr Katter

Ms Owens

Mr Zappia

Mr Danby

Ms Keay

 

* Tellers

And so it was resolved in the affirmative.

And the question—That the message be considered at the next sitting—being accordingly put—

The House divided (the Speaker, Mr A. D. H. Smith, in the Chair)—



 

AYES, 75

Mr Abbott

Mr Falinski

Ms M. L. Landry

Mr Pyne

Mr Alexander

Mr Fletcher

Mr C. A. S. Laundy

Mr Ramsey*

Mrs K. L. Andrews

Ms Flint

Mr Leeser

Mr Robert

Mr K. J. Andrews

Mr Frydenberg

Ms Ley

Mrs Sudmalis

Ms Banks

Mr Gee

Mr Littleproud

Mr Sukkar

Ms Bishop

Dr Gillespie

Mr McCormack

Mr Taylor

Mr Broad

Mr Goodenough

Dr McVeigh

Mr Tehan

Mr Broadbent

Mr Hartsuyker

Ms Marino

Mr Tudge

Mr Buchholz

Mr Hastie

Mr Morrison

Mr Turnbull

Mr D. J. Chester

Mr Hawke

Mr Morton

Mr van Manen

Mr Christensen*

Ms Henderson

Mr E. L. O’Brien

Mr Vasta

Mr Ciobo

Mr Hogan

Mr L. S. O’Brien

Mr Wallace

Mr Coleman

Mr Howarth

Mr O’Dowd

Mrs Wicks

Mr Coulton

Mr Hunt

Ms O’Dwyer

Mr R. J. Wilson

Mr Crewther

Mr Irons

Mr Pasin

Mr T. R. Wilson

Mr Drum

Mr Joyce

Mr Pitt

Mr Wood

Mr Dutton

Mr Keenan

Mr Porter

Mr Wyatt

Mr Entsch

Mr C. Kelly

Mrs Prentice

Mr Zimmerman

Mr Evans

Mr Laming

Ms Price

 

NOES, 74

Mr Albanese

Mr Dick

Dr M. J. Kelly

Mr Perrett*

Dr Aly

Mr Dreyfus

Mr Keogh

Ms Plibersek

Mr Bandt

Mrs Elliot

Mr Khalil

Ms Rishworth

Ms Bird

Ms Ellis

Ms C. F. King

Ms Rowland

Mr Bowen

Mr Feeney

Ms M. M. H. King

Ms Ryan*

Ms Brodtmann

Mr Fitzgibbon

Ms Lamb

Ms Sharkie

Mr Burke

Dr Freelander

Dr Leigh

Mr Shorten

Ms Burney

Mr Georganas

Ms McBride

Mr Snowdon

Mr M. C. Butler

Mr Giles

Ms McGowan

Ms Stanley

Ms T. M. Butler

Mr Gosling

Ms Macklin

Mr Swan

Mr Byrne

Mr Hammond

Mr Marles

Ms Swanson

Dr Chalmers

Mr Hart

Mr B. K. Mitchell

Ms Templeman

Mr Champion

Mr Hayes

Mr R. G. Mitchell

Mr Thistlethwaite

Ms L. M. Chesters

Mr Hill

Mr Neumann

Ms Vamvakinou

Mr Clare

Ms Husar

Mr O’Connor

Mr Watts

Ms Claydon

Mr Husic

Ms O’Neil

Mr Wilkie

Ms Collins

Mr Jones

Ms O’Toole

Mr J. H. Wilson

Mr Conroy

Mr Katter

Ms Owens

Mr Zappia

Mr Danby

Ms Keay

 

* Tellers

And so it was resolved in the affirmative.

ffad05e5-809a-4f1e-ac69-8c86bb2247e3 1

 

 

Suspension of sitting

At 7.02 pm, the Speaker left the Chair.

Resumption of sitting

At 10.20 pm, the Speaker resumed the Chair.