Removal of the exemption for funeral expenses policies
18 October 2019
The ABA fully supports the removal of the exemption for funeral expenses policies from the defintion of financial products.
Download PDFCorporations Amendment (Design and Distribution Obligations) Regulations 2019
11 October 2019
The ABA welcomes the exclusion from the requirement to provide a Target Market Determination (TMD) of credit provided wholly or predominantly for business purposes. In implementing this legislation, it is important that the principle of scalability be flexibly applied and that clear guidance be given on this by ASIC. We welcome the clarification around the... Read more »
Download PDFASIC Enforcement Review Taskforce
11 October 2019
The ABA supports stronger powers for ASIC and a strengthening of the regulatory framework for financial services and corporations laws generally as recommended by the ASICERT.
Download PDFReview of the pricing framework for electronic conveyancing services in NSW
1 October 2019
The most important issue for the ABA is that Australia adopts a nationally consistent approach to eConveyancing as it will drive competition, choice and price efficiency.
Download PDFAPRA’s revisions to the capital framework for ADIs
23 September 2019
An earlier implementation date for the revised operational risk capital requirements will be difficult and should be optional.
Download PDFTreasury Consultation on the Digital Platforms Inquiry 2019
19 September 2019
The ABA acknowledges the breadth of the report and supports initiatives to improve privacy protections for banking customers. The ABA makes several points in this submission which warrant further review of recommendations 16-17 with respect to privacy, and also recommendations 20-21 with respect to unfair contract terms and unfair practices, and data portability.
Download PDFReview of the Intergovernmental Agreement for an Electronic Conveyancing National Law
19 September 2019
The ABA welcomes the IGA review and is in general, supportive of its findings, draft recommendations and the draft options for improvement.
Download PDFFinancial institutions supervisory levy methodology discussion paper submission
13 September 2019
The ABA supports appropriate cost reflective funding of APRA. An adequately resourced regulator will ensure its regulatory mandate is undertaken in a timely and effective way.
Download PDFAPRA Consultations on margining and risk mitigation for non-centrally cleared derivatives
28 August 2019
The ABA supports APRA’s amendments to Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives (CPS 226)
Download PDFEconomy-wide Cash Payment Limit
12 August 2019
The Australian Banking Association (ABA) supports the Government’s introduction of an economy-wide cash payment limit to businesses for goods and services. Having a taxation system that is robust and one that meets community expectations is vital and we recognise the importance of this initiative to the integrity of our tax system.
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New 2019 Banking Code of Practice
The new Banking Code is a set of enforceable standards that customers, small businesses, and their guarantors can expect from Australian banks.