Financial System Inquiry

The debate shifts

The Treasurer has called for submissions 44 recommendations to the Final Report by 31 March 2015. Given the nature of the recommendations this will be a critical period for institutions to ensure subsequent policy reflects the needs of all stakeholders, and builds a stable financial system while promoting growth, innovation and choice. Importantly a number of reforms, particularly for banks, are linked to the continuing evolution of the G20 regulatory agenda. It is critical that institutions actively engage in this global policy development as the results will impact outcomes in Australia.

Industry change continues

Although the outcomes-based approach is the right one, it does mean that the regulatory implementation agenda will continue well beyond 2015. Now more than ever, for individual institutions, optimising the productivity of the regulatory spend is critical.

To understand next steps across resilience and competition, superannuation, innovation and consumers download our four page alert.