The Government has formed a transition team to lead to the establishment of the Australian Financial Complaints Authority (AFCA), announced in May.
Financial Services Minister, Kelly O’Dwyer, has introduced legislation into Parliament to mandate professional standards for financial advisers.
Assistant Treasurer Josh Frydenberg has released a consultation paper seeking stakeholder views on the potential introduction of an industry funding model for the regulatory activities of the Australian Securities and Investments Commission (ASIC).
Assistant Treasurer Josh Frydenberg says the 2014 Japan–Australia Economic Partnership Agreement was a major development for the financial services industries of both countries.
Australia and the United States have signed an intergovernmental agreement (IGA) to reduce the burden on Australian financial institutions.