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Topic 1 Intro Regulatory Framework

This document provides an overview of finance law and regulatory frameworks in Australia. It discusses the types of regulatory frameworks, how Australia uses a co-regulatory model known as the "twin peaks" approach, and outlines some of the key financial regulators in Australia, including their roles and regulatory processes. These regulators, such as ASIC, APRA, ACCC, RBA, and AUSTRAC generally work collaboratively under Australia's sophisticated regulatory system for its financial services industry.

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20 views

Topic 1 Intro Regulatory Framework

This document provides an overview of finance law and regulatory frameworks in Australia. It discusses the types of regulatory frameworks, how Australia uses a co-regulatory model known as the "twin peaks" approach, and outlines some of the key financial regulators in Australia, including their roles and regulatory processes. These regulators, such as ASIC, APRA, ACCC, RBA, and AUSTRAC generally work collaboratively under Australia's sophisticated regulatory system for its financial services industry.

Uploaded by

D Low
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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FINANCE LAW

Topic 1: Regulatory Framework


Introduction

• What is Finance Law?

• Scope of this unit


• Regulatory Framework
• Impact for Companies
• Impact for Consumers
• Financial products (just a few!)
• Delivery of financial services
• Money laundering
Introduction
• How to navigate this unit
• Unit Guide
• Topic Guidance Note
• Reader
• Resources
Topic 1 - Regulatory Framework
Outline:
• Types of regulation
• Australia’s framework model
• Evolution is continual
• Key regulators
• APRA
• ACCC
• RBA
• Austrac
• ASIC
Topic 1 - Regulatory Framework
Learning Outcomes:
• Have an understanding of the various types of
regulatory frameworks

• Be able to identify what regulatory framework


Australia is utilising

• Identify the role and function of some of the key


financial service regulators.
Topic 1 - Regulatory Framework
Regulatory Frameworks
• Statutory

• Co-regulatory

• Self-regulatory
Topic 1 - Regulatory Framework
Regulatory Frameworks

• Australia’s framework

• Speech: Wallis 10 years on

• Speech: Integration of Financial Regulatory


Authorities
Topic 1 - Regulatory Framework
Australian Prudential Regulation Authority
(APRA)

• Role
• Regulatory process
• Publication
• Legislation
Topic 1 - Regulatory Framework
Australian Competition & Consumer
Commission (ACCC)

• Role
• Regulatory process
• Legislation
Topic 1 - Regulatory Framework
Reserve Bank of Australia (RBA)

• Role
• Regulatory process
• Legislation
Topic 1 - Regulatory Framework
Australian Transaction Reports and Analysis
Centre (AUSTRAC)

• Role
• Regulatory process
• Legislation
Topic 1 - Regulatory Framework
Australian Securities Exchange (ASX)

• Role
• Regulatory process
• Legislation
Topic 1 - Regulatory Framework
Australian Securities & Investment
Commission (ASIC)

• Role
• Regulatory process
• Legislation
• Who ASIC regulates
• Powers
Topic 1 - Regulatory Framework
Australian Securities & Investment
Commission (ASIC)

• Functions
• Statement of Expectations
• Statement of Intent
• Accountability - who is watching the
regulator?
Topic 1 - Regulatory Framework
Summary

• Australia has a sophisticated financial


services industry
• Australia utilises mixed regulatory model
with a predominance of co-regulatory
arrangements
Topic 1 - Regulatory Framework
Summary

• Australia’s financial services regulatory


framework is known as the twin peaks

• Range of regulators that cover various


aspect of the financial system but
generally work in a collaborative
manner.

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