In this submission to the Productivity Commission, the Australian Bankers’ Association (ABA) wishes to focus on the Commonwealth Government’s and the Council of Australian Governments’ (COAG) credit regulatory reform program.
In this submission to the NSW Industrial Relations, Department of Finance and Services, the Australian Bankers’ Association’s (ABA) comments are restricted to Section I of the discussion paper relating to banking trading under Part 3A of the Act.
The Australian Bankers' Association (ABA) provided comments on the Exposure Draft Corporations Amendment (Further Future of Financial Advice Measures) Bill 2011 and accompanying draft Explanatory Memorandum.
The Australian Bankers’ Association (ABA) will put forward proposals to encourage more saving by proposing further tax breaks for bank customers, urge the Government to make it easier for staff with children to stay in work and support changes to State tax arrangements leading to national harmonisation. The Tax Forum will be held on October 4 – 5, 2011.
The ABA provided comment to Treasury on the National Consumer Credit Protection Amendment (Enhancements) Bill and specifically enhancements to the regulation of short term, small amount (payday) lending.
The health of our banks and the health of our economy are inseparable. The activities of our banks influence every sector of the Australian economy. Furthermore, as seen through the recent Global Financial Crisis, Australia’s financial system is seen as a cornerstone of the nation’s economic resilience. Equally, the continued strength and profitability of Australia’s financial system relies on the strong long-run economic growth of the nation. This paper established the importance of the banking industry to the Australian economy and the economic and social contributions it makes. Additionally, it highlights the why it is important for the banking industry to consider the role of policy reforms to promote strong economic growth and subsequently why it is important to raise these issues in the public domain.
The ABA provided comments to the National Disaster Insurance Review Inquiry. The ABA strongly believes that increasing the numbers of consumers who make the right insurance choice for their particular needs and circumstances is best achieved not through intervention in the insurance market such as via a mandated ‘automatic flood cover’ approach or intervention in the banking system such as via a legal obligation on lenders to mandate insurance cover, but rather through reform of the insurance market combined with government-industry initiatives. Competition in the insurance market should seek to provide clearer information, better disclosure and an enhanced choice of suitable insurance products
The Australian Bankers’ Association (ABA) provided comments to the Australian Securities and Investments Commission (ASIC) Consultation Paper 153: Licensing: Assessment and professional development framework for financial advisers.