Staff Reporter
The Board of the Finance Industry Council of Australia has held talks with industry regulators APRA and ASIC to discuss the future of the Australian finance industry.
According to a statement by the Finance Industry Council, the annual liaison meeting discussed a wide range of matters relevant to the Australian finance industry both at a national and international level.
International developments discussed included international progress with implementing the new global Basel capital and liquidity standards and the growing impact of US laws on Australia’s financial system.
Domestic issues around high frequency trading, dark pools and the development of the corporate bond market were also covered.
The meeting agreed that a good continuing dialogue between the industry and its regulators is important to ensuring balanced outcomes for the industry and the broader community.
The Finance Industry Council comprises of members from Abacus, the Australian Bankers’ Association, Australian Finance Conference, Australian Financial Markets Association, Australian Securitisation Forum, Financial Services Council, and the Insurance Council of Australia.
