Streamlining Prudential Regulation: Response to 'Rethinking Regulation' - Proposals Paper

Date:

Monday, 4 December 2006

Content ID:

1199

Abstract:

The Minister for Revenue and Assistant Treasurer has released the paper Streamlining Prudential Regulation: Response to 'Rethinking Regulation' seeking the views of interested parties on proposals in response to recommendations relating to prudential regulation in the report of the Taskforce on Reducing Regulatory Burdens on Business — Rethinking Regulation, as well as outstanding recommendations of the HIH Royal Commission relating to removing ministerial consent and reviewing the application of merits review to Australian Prudential Regulation Authority (APRA) decisions.

The Government is committed to ensuring that Australians are protected by a strong and effective prudential framework without placing unnecessary regulatory burdens on business. In addition to implementing the recommendations of the various reports, the Government has identified further areas where it considers that the prudential regulation framework can be simplified and its flexibility and effectiveness improved.

The closing date for submissions is 15 February 2007.

Submissions should be sent to:

Streamlining Prudential Regulation Project
Financial System Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: 02 6263 3866

Email: SPRsubmissions@treasury.gov.au