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Financial system regulation

Collection
Archive
The Centre for International Finance and Regulation (CIFR) was a Centre of Excellence operating from 2011 to 2016 to address fundamental issues affecting the Australian financial industry. CIFR’s mission was to promote financial sector vibrancy, resilience and integrity, supporting Australia as a regional financial centre...
Policy report

Blockchain at the frontier: impacts and issues in cross-border co-operation and global governance

Blockchain is an emerging technology which poses a number of novel questions and challenges to existing policy, legal, and regulatory frameworks. This report considers current and emerging uses of blockchain to strengthen beneficial economic ties between countries, including in trade and supply chain transparency, portable...
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

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

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

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...
Report

Doing business: external panel review

This report quantifies business regulations in a comparable way across eleven dimensions and 191 countries, in order to stimulate policy reform. This review recommends a major overhaul of the program and the way in which the annual indicators are assessed.
Report

Payments system review: from system to ecosystem

The payments system plays a key role in the Australian economy. It facilitates economic activity by providing a safe, efficient and effective way for Australians to exchange money for goods and services. This review was asked to investigate whether the regulatory architecture of the Australian...
Report

Greenfields, cash cows and the regulation of foreign investment in Australia

Since the advent of European settlement, Australia has been a net recipient of foreign investment. Foreign investment is crucial to grow the Australian economy, but it does not necessarily follow that all foreign investment is equally productive. The committee urges the Australian government to accept...
Policy report

Buying and selling extremism

The ways that online funding mechanisms can be exploited by individuals and groups promoting right-wing extremist ideology in Australia are an emerging problem. This paper argues that any response must include strong policies and programs to address the drivers of such extremism.
Briefing paper

Combining MySuper product performance histories - APRA’s approach

APRA is supporting the Australian government in implementing the 'Your Future, Your Super' measures. The focus of this paper is on APRA’s approach to administering the performance test, where APRA has flexibility in administering the performance test, and APRA’s approach to providing investment performance data...
Presentation

The role of central banks in tackling climate change

This resource looks at the role that central banks and other financial regulators can play in mitigating climate-related risks to financial institutions and systems.
Report

Australia-US bilateral investment in 2020: taxing times

This paper argues that the downturn in foreign investment in Australia, including from the United States, can be explained by the pandemic downturn in global investment, a reduced Australian international borrowing requirement, more competitive US tax settings, and an increase in regulation and regulatory uncertainty...
Report

Taking back control of regulation: managing divergence from EU rules

The United Kingdom has regained its regulatory autonomy, but it remains unclear how the government plans to exercise it. This report explores how divergence from European Union rules could arise, why the government might want to act differently, the consequences this could have and how...