This is why neither Liberal or Labor want a royal commission, because it would show the people of this country how they both took so much money away from the regulator that it simply became a lap dog for the big banks to play with and nobody gets scared of a little fluffy dog that just rolls over to get it's belly scratched.

Both governments continue to blame the advisor when they know full well the majority of those advisors were recruited by the big banks, shown large bonuses and left to their own devices to achieve them.

Apart from ramping up fees for the people doing the right thing nothing will change until a government is prepared to accept the problem and put money where it will make real changes.

Having said that, at the rate their spending on Helicopters and Bieber concerts there will be nothing left to finance any regulators.