Treasurer Josh Frydenberg has vowed to overhaul the financial services sector by the end of next year, in the hope of rebuilding consumer confidence after a scathing review of the industry.
Mr Frydenberg will use a speech on Monday morning to the Victorian Chamber of Commerce and Industry to reveal the road map for implementing recommendations from the Hayne royal commission.
"The need for change is undeniable and the community expects that the government's response to the royal commission will be implemented swiftly," he said.
The reforms involve changes to corporations law, superannuation, insurance and financial services, which the treasurer says are the most comprehensive in three decades.
Treasury and the Office of Parliamentary Counsel will receive a $9.3 million boost to ensure the government's ambitious timetable can be met.
Commissioner Kenneth Hayne made 76 recommendations for reform, including 54 for government, 12 for regulators and 10 for industry.
Mr Frydenberg says more than 20 changes will be made or introduced to parliament by the end of the year, with all to be acted on by the end of next year.
However the government has backflipped on putting an end to trail commissions for mortgage brokers, instead announcing a review into the issue in three years' time.
