Clare's Portfolios

As the Shadow Minister for Financial Services and Shadow Minister Justice, I have the privilege of developing policy to tackle some of Australia's most pressing issues.

 

 

Financial Services portfolio

I was appointed Shadow Minister for Financial Services earlier this year. This portfolio encompasses superannuation, the financial sector, and importantly the Royal Commission into banking misconduct. With the reveal of atrocious behaviour from the big banks by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, I have been listening to and advocating for banking victims, scrutinising the Morrison Government's policy and pushing for reform in the sector.

Labor has been fighting hard for victims of banking misconduct and recently we've:

  • Conducted a series of national roundtables with banking victims who were not heard by the Banking Royal Commission. To hear about some of the stories that were missed by the Royal Commission, click here.
  • Met with stakeholders from banks, community organisations and other financial institutions to better understand what reform is necessary to tackle misconduct in the industry
  • Questioned bank CEO's appearing before Parliament on banking misconduct in their banks.

A Labor Government will ensure that harsher penalties are established for financial misconduct. We need to ensure that bankers who break the law and exploit the consumer are rewarded with jail time, not big bonuses.

  • We'll implement the 76 recommendations of the Banking Royal Commission, including plans for a retrospective compensation scheme and reforms to mortgage broker remuneration.
  • A Labor Government will introduce tougher penalties for corporate criminals.
  • Labor will crack down on fraudulent phoenix activity through a package of reforms including tightened laws to protect employee entitlements and harsher penalties to deter and punish dodgy directors.

We've committed to implementing the recommendations of the Banking Royal Commission. To find out more about our plan to clean up the financial services industry, click here.

 

Justice portfolio

I have been the Shadow Minister for Justice since 2016. This portfolio has encompassed a number of complex issues, importantly combating modern slavery, ending forced marriage, firearm control and the Australian Federal Police (AFP).

As Shadow Minister for Justice I have been working on

  • The Modern Slavery Act (2018) that introduced mandatory supply chain reporting to ensure that no Australian companies are involved in modern slavery, intentionally or accidentally.
  • Developing a reformed approach to forced marriage that better supports victims and encourages more survivors to come forward. Under a Shorten Labor Government, this reform will rightly be implemented.

Labor will ensure that the law in Australia remains fair and just, and will ensure that everyone receives the protection they need to live a safe life. A Labor Government will:

  • Commit $25 million to establish a Corporate Crime Taskforce to equip the Commonwealth Public Prosecutor to respond to recommendations for criminal prosecution which stem from the Financial Services Royal Commission.
  • Close loopholes in our corporate bribery laws through a national anti-bribery framework, ending the facilitation payments defence and banning private sector bribery.
  • Introduce an Anti-Slavery Commissioner and enforce supply chain reporting requirements for major businesses to ensure no Australian company is either directly or indirectly engaged in modern slavery.
  • Introduce Forced Marriage Protection Orders to prevent young Australians being forced into marriage, taken overseas or removed from school and make it easier for victims to access support.

 


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