Payment systems and foreign exchange


March 20, 2017 7:47 AM | Posted by Batten, Richard | Permalink
December 6, 2016 8:46 PM | Posted by Batten, Richard | Permalink
Our submission to ASIC on Consultation Paper 268 Licensing relief for foreign financial services providers with a limited connection to Australia supports the continued need for both the exemption for wholesale services provided outside Australian (CO 03/824) and the passporting class order relief that ASIC has provided to regulated entities from the US, the UK, Hong Kong, Singapore, Germany and Luxembourg.  Further details can be found in our submission which is available here. read more
March 2, 2016 12:07 PM | Posted by Hamman, Eibhlin | Permalink
The Competition and Consumer Amendment (Payment Surcharges) Bill was passed by the Senate on 22 February 2016, and once enacted will amend the Competition and Consumer Act 2010 (Cth) to establish a legislative and regulatory framework to ban excessive payment surcharges, including those imposed for payment by credit card. read more
October 23, 2015 9:37 AM | Posted by Batten, Richard | Permalink
The release of the Government's response to the Murray Inquiry provides a roadmap for regulatory action affecting the sector over coming years and much needed certainty for industry. read more
October 20, 2015 8:29 AM | Posted by Batten, Richard | Permalink
The Government has released its response to the Financial System Inquiry's Final Report which includes specific measures which the Government plans to implement before the election and beyond. read more
July 30, 2015 4:15 PM | Posted by Pinar Ozer | Permalink
ASIC announced yesterday that it will now use its power to recover expenses and costs of its investigations.   read more
July 16, 2014 8:54 AM | Posted by Harry Aitken | Permalink
Technology is having a dramatic influence on the state of the Australian financial system. Developments in consumer forums, data collection methods, transactional mechanisms and cloud technology have spawned new products, services and market entrants. 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
March 21, 2014 3:21 PM | Posted by Richard Batten, Tim Sutton | Permalink
In order to pre-empt the challenges and opportunities of the coming decades, the Financial System Inquiry will need to consider a number of significant trends. For example, the impact of China and other Asian countries as consumer economies is increasing. Our financial system will also need to be prepared for the oncoming demographic change in Australia's population.
read more
March 14, 2014 1:00 PM | Posted by Richard Batten, Tim Sutton | Permalink
It's been 17 years since Australia's last inquiry into its financial system. A lot has changed since the Wallis Report in 1997. Why the need for a new inquiry? What has changed since Wallis made his recommendations? read more