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Financial services industry

Report

Responsible investment benchmark report 2020 New Zealand

This annual report details the size, growth, depth and performance of the New Zealand responsible investment market over 12 months to 31 December 2019 and compares these results with the broader New Zealand financial market.
Discussion paper

PostBank: filling a void, securing essential services

This discussion paper makes the case for the creation of a public bank in Australia by providing Australia Post with an Authorised Deposit-taking Institution (ADI) licence, and moving in time to establishing 'PostBank' as a full national savings and loan bank.
Report

AI barometer

This publication presents a major analysis of the most pressing opportunities, risks, and governance challenges associated with AI and data use in the United Kingdom, initially across five sectors.
Report

Criteria for certification under the Credit Contracts and Consumer Finance Act 2003

The confirmed ‘fit and proper’ criteria outlined in this response report focus on whether all directors and senior managers of lenders and mobile traders are competent, financially sound, honest, reputable, reliable and competent to do the job.
Book

Change finance, not the climate

Challenging the role of 'big finance' in our carbonised economy will require political intervention, not just technocratic fixes. This publication presents progressive proposals to build a fairer financial system that can respond to the climate crisis, rather than accelerate it.
Report

Justice tempered

This report finds that the Australian finance sector’s concentration on profits at all costs compromises the ethical integrity of workers in the industry. The report argues that while the Banking Royal Commission uncovered widespread misconduct in Australia’s banking and financial services sector, it failed to...
Fact sheet

Indigenous financial impacts and risks and COVID-19: CSI and First Nations Foundation response

The Centre for Social Impact and First Nations Foundation policy response to the COVID-19 Disease is based on three key strategies: caring for communities, access to appropriate services, and targeting high-cost lending and misleading advice.
Policy

ACCC/OAIC compliance and enforcement policy for the Consumer Data Right

The purpose of this policy is to help consumers and Consumer Data Right (CDR) participants understand the approach that the ACCC and the OAIC will adopt to encourage compliance with CDR Rules, legislation (including Privacy Safeguards) and Consumer Data Standards. The policy also sets out...
Report

Impact of COVID-19 on the global financial system

This briefing is the outcome of several multi-stakeholder dialogues organised by the World Economic Forum’s 'Platform for Shaping the Future of Financial and Monetary Systems.' This briefing summarises the key findings of these discussions, providing insight into financial market trends, private-sector views of government responses...
Discussion paper

Retail investor trading during COVID-19 volatility

This paper outlines some early observations by ASIC staff on trading in securities and contracts for difference (CFDs) during the volatility caused by the COVID-19 pandemic (COVID-19 volatility). It was produced to inform our work in managing the impact of the COVID-19 pandemic and is...
Report

Home loan price inquiry: interim report

This interim report shows that the big four banks considered various factors as they decided whether to pass on the RBA’s June, July and October 2019 rate cuts. But recovering profits was central to their decisions to not always fully pass through the lower rates...
Book

Sustainable Development Goals Disclosure (SDGD) Recommendations

The SDGD Recommendations call on organisations to consider sustainable development risks and opportunities relevant to their long term value creation strategy and communicate the actual or potential impacts on achievement of the SDGs.
Discussion paper

Confidence in Australian banknotes

This paper investigates various factors that might influence the general public's confidence in the security of Australian banknotes, using a unique series of online banknotes surveys conducted by the Reserve Bank of Australia since 2010.
Conference proceedings

CPD business roundtable on climate and sustainability: summary of conclusions

The discussion outlined in this roundtable summary document highlights that the bar on climate risks continues to rise for Australian company directors, investors and regulators. It also suggests there is strong support for accelerated action on climate change and a new national mission to address...
Report

Net zero momentum tracker: banking sector - October 2019

As investors and capital providers, banks are significant to Australia’s transition to a net zero emissions economy. This report finds that 85 per cent of the banks assessed are taking steps to reduce their investment and lending portfolio emissions, but that these commitments are not...
Journal article

The role of RegTech in augmenting regulatory compliance: regulating technology, accountability and liability

While RegTech in its many forms, from expert rule-based systems for compliance automation to artificial intelligence for reporting and compliance analysis, has the potential to revolutionise a regulator’s job, it comes with its own set of legal challenges.
Report

Choice in banking

Deloitte Access Economics was engaged to explore the factors that motivate consumer choices in retail banking. This report uses new evidence from a nationally representative survey of Australian retail banking consumers to understand the underlying preferences driving consumer choices over banks throughout a customer’s relationship...
Report

Can the world economy find a new leader?

This paper examines the governance problems in the monetary system and global trade and regulation. It then explores whether issues have arisen because the US has given up its dominant role, and if so, how these might be rectified.
Report

The countervailing power: review of the coordination and funding for financial counselling services across Australia

This review report notes the benefits of financial counselling to the community, including early intervention and prevention of further financial hardship, advocacy support, and referral to other services for complex issues. It also highlights the challenges faced by the financial counselling sector.
Report

Director and officer oversight of non‑financial risk report

This report sets out the Taskforce's observations on director and officer oversight of non‑financial risk. The seven financial services institutions selected for this review are those that many Australians are exposed to, through their personal and business banking, superannuation or insurance, or as shareholders.