Abstract:Abstract The principal authorities that regulate financial services in Australia, including banking, insurance, and securities activities, are as follows: the Australian Prudential Regulation Authorit...Abstract The principal authorities that regulate financial services in Australia, including banking, insurance, and securities activities, are as follows: the Australian Prudential Regulation Authority (APRA), a single prudential supervisor responsible for prudential supervision of banks, life and general insurance companies, superannuation funds, and other deposit-taking institutions (such as building societies, credit unions, and friendly societies); the Australian Securities and Investments Commission (ASIC), with responsibility for the general regulation of companies, financial services and financial markets and consumer protection across the financial services industry including financial services, financial products and markets; and the Reserve Bank of Australia (RBA), which is responsible for monetary policy, overall financial system stability, and regulation of the payments system. The Australian Competition and Consumer Commission (ACCC), while not directly involved in regulation of the financial services industry, regulates competition and fair trading and provides for consumer protection in the financial services marketplace.Read More
Publication Year: 2008
Publication Date: 2008-10-09
Language: en
Type: book-chapter
Indexed In: ['crossref']
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