Submissions

FINSIA (the Financial Services Institute of Australasia), welcomes the opportunity to make a submission to the 2021 Independent Review of Banking Code of Practice (the Independent Review), which has been reviewed by its Retail and Business Banking Council.

FINSIA (the Financial Services Institute of Australasia), welcomes the opportunity to make a submission in response to the Single Disciplinary Body: Policy Paper and the proposals to implement regulations under the Financial Sector Reform (Hayne Royal Commission Response- Better Advice) Bill 2021 (the Bill).

FINSIA (the Financial Services Institute of Australasia), welcomes the opportunity to make a submission in relation to the Financial Accountability Regime Bill 2021 (the Bill). 

FINSIA welcomes the opportunity to submit comments and feedback on the Financial Services Council ‘Affordable and Accessible Advice: FSC Green Paper on Financial Advice’ (Green Paper). Broadly speaking, FINSIA agrees with the proposals put forward in the Green Paper and believe them to be comprehensive and substantial in addressing the problems we are trying to solve regarding complex regulation, escalating costs of operating advice businesses with increased regulatory requirements, and future policy reform. 

FINSIA supports the development of standards such as the Threshold Competence for Professional Bankers. 

FINSIA thanks FASEA for the opportunity to provide feedback on the above.

FINSIA thanks Treasury for the opportunity to provide feedback on its consultation paper, Enforceability of financial services industry codes. Broadly speaking, we support Treasury’s proposals.

Our submission highlights that FinTechs, while strong in technological knowledge and skills, may benefit from building their capabilities and standards in the business sector they are working in.

FINSIA believes that accountability needs to be founded on demonstrated competence to perform a role in the banking industry.

FINSIA welcomes the opportunity to comment on 'Consultation Paper 6: ASIC's power to ban senior officials in the financial sector' that forms part of the ongoing ASIC Enforcement Review.