‘Not the right way to do reform’: Labor’s open door policy to industry By Sarah Kendell 22 April 2021 The federal opposition has set the stage for its approach to financial services regulation in the lead-up to a possible election early next year, saying the Coalition has too often “closed the door in the face” of industry when it suggests sensible amendments to legislation. Addressing the FSC Life Insurance Summit this week, shadow financial services minister Stephen Jones said while Labor supported the government on the “broad direction” of financial services reform following the royal commission, many parts of its legislative response had thrown up “unintended consequences” where industry warnings had gone ignored.