28 February 2023
ABA notes that one of the considerations for ASIC ought to be the deployment of the best combination of enforcement tools that would bring about early resolution of matters in a way that would promote customer confidence. Unresolved issues which extend for many months are unhelpful to customer confidence. Additionally, extended resolution times can cause uncertainty within the industry as it awaits an outcome. We suggest EUs and Infringement Notices are particularly useful because they not only punish poor practices, but they also deliver speedier improvements to business practice and customer outcomes.
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The Australian Banking Association (the ABA) welcomes the opportunity to comment on the Consultation Paper that will inform the direction and development of the Second Action Plan under Australia’s National Plan to End Violence against Women and Children 2022-2032 (the National Plan).
The ABA continues to support the intent of the CSLR as a last-resort scheme that compensates genuine victims where they have suffered actual financial loss as a result of financial misconduct that they have otherwise been unable to recover.
The Australian Banking Association (ABA) welcomes the opportunity to make a submission to the Treasury consultation Registry Stabilisation and Uplift – draft legislation (the consultation).