Regulation of Financial Market

• Importance of Regulation

  Most people will be significantly affected if the financial system is not secure
• RBA - Australia's Central Bank

  Has the role of controlling the country's money and bank system. Its primary purpose is the overall management of the financial system in accordance with the economic objectives of the Commonwealth government.
• Australian Prudential Regulation Authority (APRA)

  Provides regulation for all authorised deposit-taking institutions. E.g. banks, superannuation funds, insurance companies
• Australian Securities & Investments Commission (ASIC)

  Regulates financial markets aiming to protect investors and consumers and improving financial system performance. Has the power to act in situations where financial system integrity has been undermined by illegal acts. ASIC also has the power to protect consumers against misleading conduct affecting financial products
• Australian Treasury


  Main source of economic policy advice to government
• Council of Financial Regulators

  A coordinating body for financial market regulation that provides for cooperation and collaboration among the RBA, APRA, ASIC and Treasury