Submissions 2012

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ABA supplementary submission to Parliamentary Joint Committee on Corporations and Financial Services (PJC)  inquiry into FOFA
10 Feb 2012
In this submission the ABA offers some points of clarification in relation to the discussions between the Committee members when the ABA appeared before the PJC on 23 January 2012.
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Australian Bankers’ Association’s (ABA) submission to Treasury re Review of Australia’s Transfer Pricing Rules
2 Feb 2012
In this submission, the ABA provides comments on the review and potential prospective rewrite of Australia’s transfer pricing provisions which are contained in Division 13 of the Income Tax Assessment Act 1936 (‘Division 13’) and the retrospective legislative changes which were announced by the Assistant Treasurer in the Media Release No 145.
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ABA submission on Future of Financial Advice (FOFA reforms)
12 Jan 2012
In this submission the Australian Bankers’ Association (ABA) appreciates the opportunity to provide comments to the inquiry into the Corporations Amendment (Future of Financial Advice) Bill 2011 and Corporations Amendment (Further Future of Financial Advice Measures) Bill 2011, and accompanying Explanatory Memorandums (“FOFA legislative package”).
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ABA submission on Term Deposits
9 Jan 2012
The Australian Bankers’ Association (ABA) provided comments to the Australian Securities and Investments Commission (ASIC) Consultation Paper 169:Term deposits that are only breakable on 31 days’ notice: Proposals for relief.

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The announcement by the Federal Government of a phased approach for introducing Open Banking is a sensible path forward for this important reform, enabling banks to design a secure system which benefits Australian consumers.
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