4 December 2020
The ABA supports a review of the Privacy Act and the stated goals to ensure privacy settings empower consumers, protect consumer data, and best serve the Australian economy.
Achieving the balance between Personal Information (PI) protection, innovation and economic growth will require considerable time and effort from the AGD to get these reforms right.
The ABA urges the government to first design an overarching blueprint and roadmap for data and information privacy.
The ABA highlights at multiple points that the OAIC could provide further and specific guidance rather than embedding the detail in the Privacy Act.
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The ABA thanks ASIC for the opportunity to comment on its discussion paper on the dynamics between public and private markets.
The ABA welcomes APRA providing clarity on the proposed targeted changes for Higher Education Loan Program (HELP) debt obligations and the constructive approach it is taking on this consultation.
The ABA welcomes APRA’s consultative approach to the potential impacts of the proposed replacement of AT1 capital with higher amounts of CET1 and Tier 2 capital under APRA’s prudential framwork in Australia.