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Banking and finance

The Treasury promotes competitive, efficient markets that work for the good of consumers and investors, a secure financial system and sound corporate practices, and foreign investment consistent with Australia's national interests. This includes regulatory reforms to improve the resilience of the financial system, innovation and consumer outcomes and participation in regional and international forums, such as G20 summits.

Consultations

  •  - Open29 days left to have your sayConsultation Paper

    On 4 February 2019, the Government released its response to recommendations made by the Financial Services Royal Commission’s final report to remove the exclusion of insurance claims handling from the definition of ‘financial service’. The Royal Commission recommended that the handling and settlement of insurance claims be included in the definition of ‘financial service’ and […]

  •  - Open29 days left to have your sayExposure Draft

    The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry recommended that the grandfathering arrangements for conflicted remuneration in relation to financial advice provided to retail clients should be removed as soon as is reasonably practicable (see recommendation 2.4). In its response to the Royal Commission, the Government announced that it would […]

  •  - Open36 days left to have your say

    On 9 May 2018 the Government committed to implement Open Banking through the broader Consumer Data Right in line with the recommendations of the Review into Open Banking in Australia. The Treasury Laws Amendment (Consumer Data Right) Bill 2019, which was introduced to Parliament on 13 February 2019, introduces amendments to the Competition and Consumer Act […]

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