Minister for Financial Services, Superannuation and Corporate Law Chris Bowen will retain his portfolio following a cabinet reshuffle announced yesterday.
Prime Minister Julia Gillard announced only minor changes to the cabinet.
Former Labor leader Simon Crean will take over Gillard's portfolio of education, employment, social inclusion and workplace relations.
Crean previously held the trade portfolio, which will now be added to that of Minister for Foreign Affairs Stephen Smith.
Yesterday, Bowen said in a statement that he will continue the reforms under the government's Future of Financial Advice agenda.
"I look forward to working with stakeholders across the industry and consumer groups, as we move to implement this important reform package," Bowen said.
"I expect there will be a significant amount of consultation in relation to the finer implementation details of the package. There will also be a public exposure of the draft legislation in due course," he said.
He said public sessions will held in early July in Adelaide, Brisbane, Melbourne, Perth and Sydney in order for industry participants to discuss the key issues.
Bowen also slammed the Coalition's backing of adviser sales commissions.
"What we have here is a Coalition so intent on opposing government policy that they are opposing important reform that industry is willing to undertake and consumer groups have welcomed," he said.
