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Australian Financial Services Regulatory Update - July 2021 | Jones Day

Australian Financial Services Regulatory Update - July 2021 | Jones Day
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Getting to know the corporate regulator in Australia - Corporate/Commercial Law

Getting to know the corporate regulator in Australia - Corporate/Commercial Law
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Bill to deliver regular reviews of ASIC and APRA passes

The government’s Financial Regulator Assessment Authority bill has passed in Parliament this week. ....

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Financial regulators ASIC, APRA to be regulated by new authority

Legislation that will create a new watchdog to scrutinise Australia’s twin-peaks financial regulator model has now passed both houses of Parliament. ....

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Senate greenlights regulator of regulators

Mortgage Business
Senate greenlights regulator of regulators
By Sarah Simpkins
24 June 2021
The Senate has passed a bill that will establish an authority that ASIC and APRA are accountable to, two years after it was recommended by the banking royal commission.
On Tuesday night (22 June), the Senate passed the Financial Regulator Assessment Authority Bill 2021 with amendments. The law’s primary purpose is to establish the Financial Regulator Assessment Authority (FRAA), a body tasked with assessing the effectiveness and capability of ASIC and APRA.
It will become law once the Governor-General gives royal assent.
When he handed down his final report from the royal commission, commissioner Kenneth Hayne had called for a new oversight authority for the financial watchdogs, independent of government, as one ....

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