This consultation process has now been completed.
Date
-
Consultation Type
Exposure Draft
Key Documents
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry recommended a new authority for APRA and ASIC, independent of Government, be established by legislation to assess the effectiveness of each regulator in discharging its functions and meeting its statutory objectives.
On 4 February 2019, the Government released its response to the Royal Commission, and is taking action on all 76 recommendations.
The Government is today releasing exposure draft legislation for public comment which implements recommendation 6.14 of the Royal Commission.
Recommendation 6.14 will establish an independent assessment authority to review the effectiveness of APRA and ASIC, and report on its findings to the Minister.