Financial services regulation

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ABA submission to ASIC on FOFA reforms - Scaled advice
8 Oct 2012
The Australian Bankers Association (ABA) provided comments on Consultation Paper 183: Giving information, general advice and scaled advice. The ABA supports the Federal Government’s efforts to implement law reforms intended to improve the quality of financial advice, the regulation of financial planners and the professionalism of the financial planning industry. A well explained scaled advice framework can improve the quality of advice and improve trust and confidence in the advice industry.
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ABA submission to ASIC on FOFA reforms - Best interests duty
8 Oct 2012
The Australian Bankers Association (ABA) provided comments on Consultation Paper 182:Future of Financial Advice: Best interests duty and related obligations – Update to RG 175. The ABA supports the Federal Government’s efforts to implement law reforms intended to improve the quality of financial advice, the regulation of financial planners and the professionalism of the financial planning industry.
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ABA submission Parliamentary Joint Committee on Corporations and Financial Services on Inquiry into the Corporations Legislation Amendment (Derivative Transactions) Bill 2012
5 Oct 2012
The Australian Bankers’ Association (ABA) provided comments to the Parliamentary Joint Committee on Corporations and Financial Services Amendment (Derivative Transactions) Bill 2012. The ABA supports the Government’s introduction of the enabling legislation to respond to Australia’s G20 commitment concerning over-the-counter OTC Derivatives.
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ABA submission to ASIC on CP178: Advertising credit products and credit ervices: Additional good practice guidance
15 Aug 2012
The Australian Bankers' Association (ABA) provided comments to ASIC on Consultation Paper 178: Advertising credit products and advice services: Good practice guidance including the proposed Regulatory Guide. This submission sets out our general comments on the nature of the guidance. It then makes specific comments on the content of the consultation paper and proposals for additional good practice guidance and examples for advertising credit products and credit services.
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ABA submission to The Treasury on the implementation of a framework for Australia’s G20 over-the-counter (OTC) derivatives commitments
22 Feb 2012
The Australian Bankers’ Association (ABA) made a submission to Treasury’s review of the proposed OTC legislative framework.
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ABA submission to The Treasury on Retail Corporate Bond Market
15 Feb 2012
The Australian Bankers’ Association (ABA) provided comments to the Treasury’s Discussion Paper Development of the retail corporate bond market: streamlining disclosure and liability requirements. The ABA supports the Government’s efforts to build a retail corporate bond market in Australia. While Australia has well functioning derivatives markets which would support an expanding corporate bond market, there are a number of market and regulatory barriers which mean that the retail corporate bond market is under developed in Australia. Therefore, the ABA supports amendments to the prospectus rules for bond issuances to retail investors, subject to certain conditions being met.
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ABA submission to ASIC on strengthening regulation of research report providers
15 Feb 2012
The Australian Bankers’ Association (ABA) provided comments to ASIC Consultation Paper 171: Strengthening the regulation of research report providers (including research houses).The ABA believes it is important to ensure regulation is proportionate and differentiates between retail and wholesale markets. The ABA supports regulation of research organisations which improves governance practices, robustness of research processes and research reports, quality of research and integrity of analysts, and education of investors of the role of research in the marketplace.
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ABA supplementary submission to Parliamentary Joint Committee on Corporations and Financial Services (PJC)  inquiry into FOFA
10 Feb 2012
In this submission the ABA offers some points of clarification in relation to the discussions between the Committee members when the ABA appeared before the PJC on 23 January 2012.
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ABA submission on Future of Financial Advice (FOFA reforms)
12 Jan 2012
In this submission the Australian Bankers’ Association (ABA) appreciates the opportunity to provide comments to the inquiry into the Corporations Amendment (Future of Financial Advice) Bill 2011 and Corporations Amendment (Further Future of Financial Advice Measures) Bill 2011, and accompanying Explanatory Memorandums (“FOFA legislative package”).
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ABA submission on Term Deposits
9 Jan 2012
The Australian Bankers’ Association (ABA) provided comments to the Australian Securities and Investments Commission (ASIC) Consultation Paper 169:Term deposits that are only breakable on 31 days’ notice: Proposals for relief.

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