Key Documents
The Government has released this paper seeking stakeholder views on a range of options directed primarily at strengthening Australia's framework for financial regulation.
The paper sets out options for consultation with a view to: strengthening APRA's crisis management powers; simplifying APRA's regulatory powers across the various Acts it administers, given that many firms operate across sectors; making a series of minor and technical amendments to enhance the effectiveness of legislation administered by APRA; and aligning Australia's regulatory regime with international best practice following the GFC.
Australia's sound regulatory backing helped ensure that our economy emerged from the global financial crisis in better shape than most.
The paper is part of an ongoing review of the legislative framework administered by APRA and follows a series of reforms implemented by the Government since 2008.