2021 Banner

Submissions - 2021

Date Title & Summary Topic Area Sent to
12-Feb-2021

APRA Remuneration Standard 511

AFMA made a submission to the APRA consultation on a revised draft of a remuneration standard, which significantly improved on the previous draft released. Members had flagged concerns around the threshold for inclusion and the burden for smaller foreign ADIs.

Regulation APRA
08-Feb-2021

ASX Clear Consultation Trust Segregated Accounts

AFMA responded to an ASX consultation paper on proposed amendments to the ASX Clear Operating Rules and Guidance Note 12 to provide an improved framework and guidance to assist participants to comply with client money obligations.

Regulation ASX
03-Feb-2021

ASIC CP 333 Reference Checking and Information Sharing Protocol

AFMA provided a submission to the ASIC consultation on implementing the Hayne Royal Commission’s recommendations that firms expand the existing industry standard approach to reference checking for financial advisors.

Regulation ASIC
25-Jan-2021

Treasury Payments System Review

AFMA responded to the Treasury consultation reviewing the regulatory architecture of the Australian payments system to ensure it remains fit-for-purpose and is capable of supporting continued innovation for the benefit of consumers, businesses and the broader economy.

Regulation Treasury
25-Jan-2021

ASIC CP322 Affordable Advice

AFMA provided a submission to an ASIC consultation CP 332 which seeks input from industry participants and relevant stakeholders to help ASIC understand the issues and impediments relating to the supply of good quality affordable personal advice; and the practical steps that can be taken by ASIC and industry to improve consumer access to good quality affordable advice.

Regulation ASIC