Good point fracker Was having quick read of the review earlier,...

Good point fracker
Was having quick read of the review earlier, basically to loosen the big 4 grip and help the smaller lenders etc, also to strengthen the financial system from a possible gfc event.
The recommendation for default retirement products sounds promising for annuities definitely, I'm now interested to see if the gov actually take any action, and if labor accept the same recommendations. How quickly will this become law? My bet
.. not waiting for joe hockey to take quick decisive action any time soon. Will the libs still be in gov for much longer...




Some snippets.
The recommendations of the inquiry seek to improve efficiency, resilience and fair treatment and in the financial system allowing it to achieve and support growth and a better standard of living for future and current generations," Mr Hockey said on Sunday.

The government intends to further consult with industry and consumers before making any decisions on the recommendations.

This consultation will occur up until March 31, 2015.

The review recommends Australian banks retain more money to minimise their risk of failure and improve competition.