The Australian Bankers’ Association (ABA) appreciates the opportunity to comment on APRA’s response paper and draft prudential standards. The ABA and its member banks also appreciate APRA’s ongoing willingness to engage with industry on these matters. Continued open engagement between APRA and industry is important to ensure an optimal outcome is reached, especially as the new Basel III standards are proposed to be implemented on an accelerated basis in Australia.
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.
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.
In this submission, the ABA provides comments on the review and potential prospective rewrite of Australia’s transfer pricing provisions which are contained in Division 13 of the Income Tax Assessment Act 1936 (‘Division 13’) and the retrospective legislative changes which were announced by the Assistant Treasurer in the Media Release No 145.
When dealing with banks we want you to be aware that your money is safe and secure and all personal information is handled in a confidential and safe manner. With warnings about fraud, identity theft and scams on the increase, it’s only natural to be concerned. Keeping your money safe is not only about taking precautions when you bank, especially on-line – it’s also about protecting your rights as a consumer. In this fact sheet, we outline these two elements and provide some important safety checks.
Identity theft involves the theft of a pre-existing identity. It may occur when a criminal steals or comes into possession of your personal information, such as your name, credit card details, address, date of birth, bank account, debit card details, driver’s licence etc and assumes your identity to commit fraud. Criminals commit this crime by applying for credit, running up bills and not paying creditors – all under another person’s name. Banks use a combination of safeguards to protect your information. This fact sheet prepared by the Australian Bankers’ Association and the Australian High Tech Crime Centre will help you recognise the crime and also provides some useful advice on how to protect yourself from identity theft.