Green Paper on Financial Services and Credit Reform

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Abstract:

Green Paper on Financial Services and Credit Reform – Improving, Simplifying and Standardising Financial Services and Credit Regulation

The purpose of this Green Paper is to consult stakeholders about the following range of financial services and credit reform initiatives:

• the development of a comprehensive approach to the regulation of mortgages and mortgage broking advice;
• the regulation of margin lending;
• the creation of a national market for trustee corporations through the implementation of Commonwealth legislation;
• reforms to improve the existing regulation of debentures;
• the investigation of issues relating to property investment advice, including property spruikers; and
• the consideration of the most appropriate regulation of a range of remaining credit products, such as credit cards, personal loans and micro-lending.

The Green Paper sets out key issues for consideration and in some cases high level alternatives are put forward as options for addressing the issues.

These issues form key initiatives included on the Council of Australian Governments’ (COAG) reform agenda. Comments received in response to this paper will assist in informing COAG and its decision making about the regulation of these key financial services.

Stakeholders are invited to submit comments on the options presented, or submit their own proposals.

Submission closing date: 1 July 2008

Please provide submissions to either:

financialservicesgreenpaper@treasury.gov.au

OR

Financial Services and Credit Reform Green Paper
Corporations and Financial Services Division
Treasury
Langton Crescent
PARKES ACT 2600

Phone: 02 6263 3971
Fax: 02 6263 2770

Documents Available:

 Acrobat (PDF)

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