Many submissions responding to the Interim Report supported simplification of financial services laws.[1] Industry, community groups and regulators agreed the current law is too complex. The effect of legal complexity on each of these groups differs. What would be achieved Read More …
Tag: task
3.1 A different regulatory task
Superannuation presents particular regulatory issues. It is a compulsory product. All who are employed, and very many of those who have been employed, will have superannuation arrangements. Superannuation performance directly affects the public purse by reducing the call on social Read More …
Conclusion
The financial advice industry is part way through transformation from an industry dedicated to the sale of financial products to a profession concerned with the provision of financial advice. The interests of Australians who seek financial advice require that that Read More …
7.2 Preventing processing and administrative errors
Recognising, as I must, that no systems for processing the numbers of transactions or variety of arrangements offered by banks will ever operate perfectly, does not mean that there is nothing to be done except sweep up the consequences after Read More …
1.4 Extending the Commission
Why deal with these issues now? Why make my Final Report now? Why not extend the work of the Commission? Many suggested that I seek an extension of the time by which my Final Report was due to allow for Read More …
1 This report
The central task of the Commission has been to inquire into, and report on, whether any conduct of financial services entities might have amounted to misconduct and whether any conduct, practices, behaviour or business activities by those entities fell below Read More …