| 07-Dec-2014 |
The release of the Financial System Inquiry's final report is a major step in the Government's process to develop the Australian financial system in a way that best meets the evolving needs of Australian businesses, households and government. AFMA agrees with the Report's assertion that there is not a strong case to change Australia's institutional arrangements for making and implementing financial stability policy.
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Regulation |
| 26-Nov-2014 |
The Australian Financial Markets Association (AFMA) welcomes the announcement by Senator Cormann that the Government has agreed with the Opposition that a revised regulation to progress the broadly supported elements of the disallowed Future of Financial Advice (FOFA) Regulations will be re-made by the Government before the end of this year.
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Regulation |
| 07-Oct-2014 |
Financial markets volumes continue to tread water with mixed outcomes across individual markets, according to data published by the Australian Financial Markets Association (AFMA) in its 2014 Australian Financial Markets Report (the Report) released this evening. Data in the Report confirms the ongoing importance of efficient and healthy financial markets to the national economy.
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Other |
| 30-Sep-2014 |
The Australian Financial Markets Association today announced the conclusion of its 2014 Prime Bank Survey and the re-election of the existing AFMA Prime Banks, effective immediately.
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Other |
| 24-Jul-2014 |
On the 17th July 2014, the Parliament of Australia repealed the Clean Energy Act with retrospective effect to 1 July 2014. Consequently, and for the purposes of clarity, the “carbon reference price” for the purposes of the Addendum is $0/tonne of CO2‐e (exclusive of GST) with respect to each Calculation Period commencing at or after 12:00am (AET) on 1 July 2014.
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Regulation |
| 01-Jul-2014 |
The amended Bank Bill Swap (BBSW) Benchmark Rate Conventions as communicated in Market Notice 1-2014 have now been implemented.
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Other |
| 27-Jun-2014 |
An issue has arisen as to the appropriate operation of the LIBOR Cap, as contained in Section 160ZZA of the ITAA 1936 to AUD notional borrowings by a foreign bank following the cessation of AUD LIBOR on 31 May 2013. AFMA and the ATO have agreed an Administrative Solution whereby that provides a safe harbour for taxpayers that apply the proxy rate (determined with reference to BBSW plus an appropriate margin).
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Taxation |
| 24-Jun-2014 |
The AFMA Electricity Committee has made a determination with respect to the calculation of the Carbon Reference Price (CRP) for the financial year 2014/2015.
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Regulation |
| 20-Jun-2014 |
The Australian Financial Markets Association has welcomed the Government's announcement today about clarifications to the FOFA regime as the next step in finalising what has been an extensive consultation and revision process.
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Regulation |
| 02-Jun-2014 |
The BBSW Conventions have been amended and are pending implementation. The amendments have been designed to improve a number of operational procedures whilst not altering the fundamental characteristics of the BBSW rate. All stakeholders, including subscribers, have an opportunity to provide feedback to AFMA during a 2 week consultation period commencing Monday 2 June 2014 and closing 5:00pm Friday 13 June 2014.
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Other |
| 14-May-2014 |
The Australian Financial Markets Association (AFMA) believes that the priority the Government is giving to returning the Federal Budget to surplus over time is appropriate. The budgetary strategy complements the Government’s deregulation initiatives to promote economic growth. However, AFMA is concerned about the announcement in the Budget last night of a significant rise in the AUSTRAC levy, which will increase the cost of regulation for business. This comes on top of large compliance costs associated with major financial regulatory reforms in recent years.
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Regulation |
| 30-Mar-2014 |
The Australian Financial Markets Association (AFMA) has today made a submission to the Financial System Inquiry being chaired by Mr David Murray AO. The forward looking nature of the Inquiry gives it an important role in helping to shape the financial system so it most effectively supports the future development of the Australian economy.
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Regulation |
| 24-Feb-2014 |
The Australian Financial Markets Association (AFMA) welcomes the release today by the Australian Securities Exchange (ASX) of its Consultation Paper on the Introduction of T+2 Settlement for cash equities.
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Other |