The next few months provide a crucial opportunity for participants in the Australian financial services industry to influence the final report of the Australian Financial System Inquiry, headed by David Murray.
The Interim Report has generated a lot of debate around the role of vertically integrated groups, the favourable funding and regulatory position of
Major financial institutions should prepare for group wide regulation as Australia’s peak prudential regulator gears up for stricter supervision of conglomerates.
The Australian Prudential Regulation Authority’s (APRA) planned framework for supervising conglomerates arises from its concern around the potential contagion risks faced by APRA-regulated entities within conglomerate groups. APRA is concerned that the