8 June 2021
The ABA strongly supports the objectives of the AML/CTF regime. It also strongly supports that the obligations be simplified, streamlined and clarified, and the regulatory burden reduced where possible.
While we are supportive of these amendments overall, the ABA seeks clarification on aspects of the draft Rules and Guidance.
The ABA supports the introduction of mandatory climate-related financial disclosures aligned with the ISSB, and we feel that the proposed model generally strikes an appropriate balance. The submission makes key points across six areas: phased approach, reporting content, reporting location, assurance, continuous disclosure and the modified liability approach.
The ABA’s submission to the ACCC’s Retail Deposits Inquiry 2023. Australian banks continue to provide a competitive, dynamic, and innovative marketplace for deposits. Banks are also cognisant of the variety of uses for deposit accounts and strive to provide products and services that meet the needs of customers.