Andrew Godwin

Briefing paper

Credit for small business - an overview of Australian law regulating small business loans: background paper 10

The scope of this paper is limited to small business credit in the form of loans, both secured and unsecured. It does not consider other banking facilities, financial products or financial services. It is intended to provide an overview of the relevant issues, and does...
Working paper

Is Australia's ‘Twin Peaks’ system of financial regulation a model for China?

As China’s financial system has become more complex and integrated, calls have intensified for structural reform. In particular, many commentators have called for China to move towards the twin peaks model of financial regulation along the lines of the experience in Australia. This paper explores...
Working paper

An empirical analysis of the use of enforceable undertakings by the Australian Securities and Investments Commission (ASIC) between 1 July 1998 and 31 December 2015

This working paper reports the findings of a detailed empirical study of 414 enforceable undertakings accepted by the Australian Securities and Investments Commission (ASIC), the corporate, market, finance and credit services regulator from July 1998 to 31 December 2015, a period of 17.5 years. The...
Working paper

An empirical analysis of public enforcement of directors’ duties in Australia: preliminary findings

The preliminary findings presented in this paper indicate that criminal enforcement was more prevalent than civil enforcement and there was a significant emphasis on incapacitative sanctions such as prison sentences and management disqualification orders. Monetary sanctions were less frequently imposed and tended to be of...
Working paper

Twin Peaks - The Legal and Regulatory Anatomy of Australia's System of Financial Regulation

Australia adopts a functionally-based model – the ‘twin peaks’ model – under which the functions for financial regulation are consolidated into two regulators: the Australian Securities and Investments Commission (ASIC), which is responsible for the regulation of companies, market conduct and consumer protection; and the...