Prudential Practice Guide CPG 234 Information Security
17 May 2019
The ABA’s has specific comments on the following chapters: Third parties and related parties Implementation of controls Internal audit Attachment B: Training and awareness Attachment C: Identity and access
Download PDFACCC Draft Consumer Data Rules
10 May 2019
The ACCC’s draft Rules provide a good foundation for the implementation of open banking, however there are a number of areas that have not been addressed in the draft Rules or which require further guidance.
Download PDFEnforceability of financial services industry codes
18 April 2019
Recommendation 1.15 should be implemented in a manner consistent with Commissioner Hayne’s clear intention to preserve the benefits and fundamental self-regulatory characteristics of financial sector codes.
Download PDFAFCA Rules Consultation – Legacy Disputes
15 April 2019
This is an important first step in enabling AFCA to deal with legacy complaints about conduct by financial firms dating back to 1 January 2008 that have not been previously considered and fall outside the period allowed under AFCA’s existing jurisdiction.
Download PDFAPRA Capability Review
12 April 2019
The ABA supports the Government decision to undertake regular capability reviews of financial regulators as recommended in the Royal Commission Final Report.
Download PDFIGA eConveyancing Paper
10 April 2019
While the Issues Paper comprehensively considers the impact of eConveyancing from an industry and government perspective, greater consideration should be given to the consumer outcome.
Download PDFBanking System Reform (Separation of Banks) Bill 2019
9 April 2019
The ABA does not support this Bill and has concerns with the drastic regulatory intervention it proposes. The industry’s existing reform program will be more efficient, less costly and less disruptive to the economy and community.
Download PDFConsumer Data Right – Energy Sector
22 March 2019
Banking will be the first sector to apply the CDR and the ABA supports the participation of more sectors over time to achieve an economy-wide open data regime.
Download PDFEnding Grandfathered Conflicted Remuneration for Financial Advisers
22 March 2019
While our member banks have taken steps to remove these conflicts of interest, the industry has advocated for a legislative approach to implementation of these reforms to ensure consistency across the industry and overcome practical and contractual challenges to fully removing conflicted remuneration.
Download PDFCoordination and funding of financial counselling
21 March 2019
There is significant unmet demand for financial counsellors and the banking industry supports additional funding to meet this need.
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Banks are determined to fix the problems
The final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been released.