The Treasury promotes competitive, efficient markets that work to enhance consumer and investor wellbeing, a secure financial system and sound corporate practices, and foreign investment consistent with Australia's national interests.
This includes regulatory and competition reforms to improve Australia's productivity and international competitiveness and participation in regional and international forums such as G20.
Water Licensing Arrangements
There is market uncertainty about whether water rights and contracts to trade these rights are derivatives, which are a type of financial product. This uncertainty extends to trade of water allocations and entitlements (sometimes called temporary and permanent trade) which occur frequently.
For further information, visit the Water Licensing Arrangements page.
Council of Financial Regulators Working Group
The Working Group addressed the adequacy of oversight, powers of direction and crisis management arrangements for market operators and clearing and settlement facilities.
A Consultation Paper was released in October 2011 with submissions closing on 2 December 2011.
The Working Group prepared a report for the Deputy Prime Minister and Treasurer on proposals to implement the Government’s G20 commitment regarding reforms to over-the-counter derivatives practices and was released in April 2012.
Australian Banking Reforms
As part of ensuring a competitive and sustainable banking system, the Treasury is supporting the Australian government in introducing a range of measures to increase competition to help all Australians get a better deal.
For further information, visit the Competitive and Sustainable Banking System and Australian Banking Reforms websites.
Future of Financial Advice
The Future of Financial Advice reforms will improve the trust and confidence of Australian retail investors in the financial planning sector. They are designed to tackle conflicts of interest that have threatened the quality of financial advice that has been provided to Australian investors.
For further information, visit the Future of Financial Advice website.
Federal Financial Relations
The Intergovernmental Agreement on Federal Financial Relations provides an overarching framework for the Commonwealth's financial relations with the States. A key feature of the new framework is the centralised payment arrangements which will simplify payments to the States, aid transparency and improve the States' budget processes.
For further information on Federal Financial Relations, visit the Standing Council on Federal Financial Relations website.
Natural Disaster Insurance Review
Following the January 2011 floods, the Government commissioned an independent review of issues relating to insurance in the context of the long term funding of disaster relief.
The Final Report was publicly released on 14 November 2011.
For further information, visit the Natural Disaster Insurance Review website.
Australian Reinsurance Pool Corporation
The ARPC is a statutory authority established by the Terrorism Insurance Act 2003 to administer the terrorism reinsurance scheme, providing primary insurers with reinsurance for commercial property and associated business interruption losses arising from a declared terrorist incident.
For further information, visit the Australian Reinsurance Pool Corporation website.
Australian Office of Financial Management
The Australian Office of Financial Management is a specialist Australian Government agency responsible for management of Australian Government debt. It also manages the Government's cash balances and invests in financial assets.
For further information, visit the Australian Office of Financial Management website.
Foreign Investment Review Board
The Foreign Investment Review Board examines proposals by foreign interests to undertake direct investment in Australia and makes recommendations to the Government on whether those proposals are suitable for approval under the Government's policy.
For further information, visit the Foreign Investment Review Board website.
The Panel is a peer review body that regulates corporate control transactions in widely held Australian entities, primarily by the efficient, effective and speedy resolution of takeover disputes.
For further information, visit the Takeovers Panel website.
Australian Government Actuary
The Australian Government Actuary are actuarial consultants working within Government for Government offering a centralised service to clients throughout the Australian public sector and overseas.
For further information, visit the Australian Government Actuary website.
Financial Sector Assessment Program
Australia took part in the International Monetary Fund's Financial Sector Assessment Program in 2012. The Fund released Australia's assessment document in November 2012.