April 2014

April 17, 2014 4:33 PM | Posted by Andrew Yik | Permalink
The recently released discussion paper by the Corporations and Markets Advisory Committee (CAMAC) provides a broad review of the establishment and management of managed investment schemes. The discussion paper may provide an indication of the types of issues that the Financial System Inquiry (FSI) will consider in relation to managed investment schemes. read more
April 9, 2014 11:39 AM | Posted by Paul Schoff | Permalink
The FSI terms of reference ask: do financial services regulations appropriately balance competition, innovation and efficiency, with stability and consumer protection? The Murray Panel should look backwards, because many of the relevant competition law principles are known, although they are often forgotten. Markets change, technology changes, consumption patterns change but it is typically a question of applying what we already know to those things. read more
April 7, 2014 12:24 PM | Posted by Christopher Brown and Pinar Ozer | Permalink

The Inquiry terms of reference, although broad, demonstrate an overwhelming emphasis on the regulation of the financial system and its institutional participants. What is notably missing is the equally important goal of improving financial literacy among consumers to enable them to protect themselves.

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April 4, 2014 10:30 AM | Posted by Richard Batten, Tim Sutton | Permalink
In an article in the LexisNexis’ Financial Services Newsletter (2014) 13(1), Richard Batten and Tim Sutton discussed the kick off of the Financial System Inquiry. read more
April 2, 2014 3:53 PM | Posted by Richard Batten, Tim Sutton, Thomas Ellicott | Permalink
Different regulatory regimes apply to life, general and private health insurers. Private health insurers are also have their own regulator, the Private Health Insurance Administration Council, whereas general and life insurers are overseen by APRA. Given that both regulators perform similar roles, there is potential for APRA to assume universal oversight of the insurance sector. read more
April 1, 2014 8:38 AM | Posted by Richard Batten, Tim Sutton, Thomas Ellicott | Permalink
The retail/wholesale client distinction is central to the current regulatory framework. Retail clients are afforded considerable additional conduct and disclosure protection. Reforming the retail/wholesale distinction has been on the regulatory agenda for some time, particularly in the wake of the GFC. read more