Financial services industry

Report

Statutory review of the Consumer Data Right: report

This review finds that the Consumer Data Right's (CDR's) statutory framework has so far been broadly effective in supporting the CDR's rollout, is sufficiently flexible and robust to accommodate further changes to achieve policy objectives, and has scope to further explore its limits as the...
Strategy

ASIC corporate plan 2022-26: focus 2022-23

This corporate plan highlights the work ASIC will be undertaking over the next four years, with an emphasis on regulating product design and distribution, sustainable finance, retirement decision making and technology risks.
Report

Consumer data right: non-bank lending sectoral assessment - final report

The Consumer Data Right (CDR) currently applies to the banking, energy and telecommunication sectors. This assessment report recommends the designation of the non‑bank lending sector for the CDR.
Guide

Supporting women’s financial safety

This guide provides user-friendly checklists for financial service organisations to better understand, prevent and address financial abuse.
Policy report

Policy brief on access to finance for inclusive and social entrepreneurship: what role can fintech and financial literacy play?

This policy brief presents evidence on the access to finance challenges faced by entrepreneurs from under-represented and disadvantaged groups and social entrepreneurs, and discusses how public policy and better regulation could harness the potential of fintech to address these challenges.
Report

The adequacy and efficacy of Australia’s anti-money laundering and counterterrorism financing (AML/CTF) regime

Evidence to this inquiry largely focused on the impact and/or the benefits of extending the existing AML/CTF regime to DNFBPs that are not already subject to regulation of this nature. As such, this report largely focuses on this issue, but also canvasses other aspects of...
Report

Accounting for the digital economy: time for a fresh approach

This paper aims to explain why the information economy requires a new approach to accounting. It examines how the profession can reshape existing accounting standards to help fill the information gap, while developing an entirely new approach to gathering and reporting financial and non-financial information.
Report

World development report 2022: finance for an equitable recovery

This report focuses on the interrelated economic risks that households, businesses, financial institutions and governments worldwide are facing as a consequence of the COVID-19 crisis. The report offers new insights from research on the interconnectedness of balance sheets and the potential spillover effects across sectors.
Report

Retail central bank digital currency: has its time come?

As central banks around the world prepare to launch central bank digital currencies (CBDCs), this paper looks at issues surrounding a retail version of CBDCs that would complement notes and coins for consumers.
Report

Consumer Data Right - strategic assessment: outcomes

This report identifies ‘Open Finance’ as the next priority area to expand Consumer Data Rights (CDR).
Report

It’s credit, it’s causing harm and it needs better safeguards

Financial counsellors are reporting that more and more clients have buy now, pay later (BNPL) debt and that this is causing financial hardship. The aim of this survey was to understand the extent of the issues, particularly given the broader context, as BNPL is now...
Report

Review of the Australian Financial Complaints Authority: final report

This review provided an opportunity for feedback on the operation of the Australian Financial Complaints Authority (AFCA) since its establishment, and to consider whether further enhancements should be made to ensure the external dispute resolution scheme is appropriately calibrated and operating effectively.
Report

Mobile payment and digital wallet financial services

This inquiry report provides an overview of the payments ecosystem, outlining both old and new payment systems. It also provides an overview of the technologies that enable digital wallets and mobile payments, and details of the major platforms and services offered in Australia.
Report

Canada and the digitalization of money

This report shares key takeaways from a workshop held in August with international and Canadian experts to develop advice for policy makers, regulators and market participants on how to advance the digitalization of money with a view to serving the interests of the users of...
Report

Select Committee on Australia as a Technology and Financial Centre: final report

The committee's final report makes 12 recommendations in relation to the regulation of digital assets in Australia, 'de-banking' practices affecting Australian FinTechs and other businesses, and several other issues relating to Australia's position as a technology and financial centre, to drive opportunities for innovative businesses...
Report

Small business access to finance: the evolving lending market

This research paper examines how small and medium enterprises (SMEs) access debt finance in Australia.
Briefing paper

Designing and regulating retail digital currencies

Governments and multinational organisations around the world have begun exploring the feasibility of developing retail digital currencies for domestic and global payments. This policy brief does not address bitcoin or other privately issued digital currencies that are not backed by assets having intrinsic value.
Report

Responsible investment benchmark report Aotearoa New Zealand 2021

The market for responsible investments in New Zealand has continued to soar in popularity, increasing 28% in 2020 to $142 billion, according to this report, and responsible investment assets grew at more than twice the rate of overall professionally managed investments.
Report

Greening public finance

In this document, the authors argue that 'greening' the finance system is a key part of the transition to 'net zero' emissions by 2050.
Report

Fintech for good: governance mechanisms for sustainable development

Financial technology (fintech) can help to achieve sustainable development through environmental, social and governance investing, and through financial inclusion initiatives. The authors of this paper argue that better governance and regulatory frameworks are needed to minimise the risks associated with 'fintech for good' while maximising...